Dangote Industries Limited disclosed via a statement on Wednesday that the deal was brokered between the Chairman of DIL, Aliko Dangote, the group president of Sinoma International Engineering, and Sinoma’s chairman, Liu Renyue.
At the signing, Dangote noted that once construction is complete, the new integrated cement plant will increase the company's ability to produce cement locally, bringing its capacity locally to 41.25 million tons annually and its capacity throughout all of Africa to 57.6 million tons annually.
“We are comfortable working with your company. You have handled some of our key projects and I am positive that this project will be completed as scheduled,” he said, speaking to Sinoma’s competence in handling such projects.
In response, the group president of Sinoma, Yin Zhisong, stated “it is an honor for us to build another cement plant for Dangote Group. We are proud and happy to be on this journey with the company again.”
According to the world’s wealthiest African, the project is expected to boost domestic economic growth by generating thousands of direct and indirect jobs and stimulating growth in the Itori axis. He also disclosed how his cement plant would affect forex, affirming that Nigeria's potential to export cement will rise as a result of the Itori cement factory, enabling economic diversification and foreign exchange (FX) inflows.
This project is in line with Dangote’s mission to reduce Nigeria's dependence on imported goods. During the event, Dangote made it clear that he is keen on tapping into Nigeria's vast natural reserves and producing goods locally.
The facility, whose completion date is estimated to be 27 months away, will have two lines of 6,000 TPD clinker production with an installed daily total capacity of 12,000 TPD of clinker production.
