Dangote says its cement plants in Tanzania currently run on gas turbines

Management of Dangote Cement has revealed that its sales volume increased by 2.7 per cent to nearly 4.7 million tons for the six month ended on June 30th 2019.

The company also revealed that its Tanzania plants now runs on gas turbines, just as sales volumes from its Senegal plants are more than 100 per cent of its rated capacity. It said these are good signs of better days ahead for the company’s investors. The company paid about N272.6 billion translating to N16 per 50kobo share, as dividend to its sharehoders in 2018, representing an increase of 52.4 per cent against a total dividend of N178.9 billion or N10.50 per share paid in 2017 financial year.

Chairman of the company, Aliko Dangote, had recently said its cement terminals in Lagos State and Onne, Rivers state, would be concluded before the end of 2019, as a way of further improving its market share.

He promised that the terminals, which were delayed by equipment suppliers, would rake in about $700 million in foreign exchange through cement exportation to sub-Saharan Africa. Dangote said the company would be opening export facilities within the terminals to export clinker and cement to its existing facilities both in the Cameroun and other African countries.

According to him: “Later in 2019, we will open export facilities in Lagos and Port Harcourt that will enable us export clinker initially to our grinding facility in the Cameroun and then to new grinding plants we are building in West Africa…Not only will these generate useful foreign currency for Dangote Cement to support other expansion projects outside of Nigeria, they will also help to increase the output of our Nigerian plants,” he said.

He further revealed that the company would be exporting cement through the terminals to Ghana, Cameroun, Sierra Leone and Congo, among others and as such make Nigeria the biggest exporter of cement in sub-Saharan Africa. According to him, the project will improve job creation and increase prosperity of the country and enhance the company’s capacity to increase on the completion of the terminals.

 

Source: The Sun

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