Dangote Cement Signs $1bn Deal for 12 Plants in Africa

Dangote Cement PLC has entered into a $1 billion agreement with Sinoma International Engineering to develop 12 new cement plants across Africa. This deal, disclosed on a Friday in Lagos, aims to support Dangote Cement's strategy to scale production and expand its market footprint, reinforcing its leadership across the continent.

Aliko Dangote, President and CEO of Dangote Industries Limited, described the project as key to achieving a production capacity of 80 million tons per annum by 2030, aligning with the group's Vision 2030 agenda targeting $100 billion in revenue. The agreement includes collaboration on new integrated plants and brownfield expansions, focusing on enhancing operational performance and increasing installed capacity.

The project is expected to bolster the company's market leadership and support broader infrastructure development across Africa, ensuring adequate gas supply and promoting the adoption of cleaner fuel sources. Despite a slight decline in overall volume, Nigeria's revenue grew by 42.4% to ₦2.18 trillion, with cement clinker exports increasing by 23.1%.