Dangote and Sinoma Sign $800M MoU for Cement Expansion

Dangote Industries Limited and Sinoma International Engineering Co., Ltd. have signed a Memorandum of Understanding (MoU) valued at over $800 million for the expansion of the Dangote Cement Plant in Itori, Ogun State. This agreement, signed by Aliko Dangote, President of Dangote Group, and Lin Zhong, Chairman of Sinoma, aims to increase the plant's production capacity to 12 million metric tons per annum.

The expansion is intended to meet growing domestic demand and strengthen export capabilities, reinforcing Nigeria's position as a leading cement producer. At the signing ceremony, Aliko Dangote highlighted the project as a significant milestone in the company's growth strategy and acknowledged President Bola Tinubu for creating a conducive business environment.

He attributed the expansion to Nigeria's new focus on concrete for road construction and the need to export to other African countries, aligning with the company's Vision 2030 goal of producing 90 to 100 metric tons per annum. The project is expected to generate employment and contribute to economic growth across Africa.