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Dangote Cement has stated that it will open terminals in Lagos and Port Harcourt to export clinker to its grinding plants in West Africa
Chairman Aliko Dangote made the announcement at the company’s annual general meeting in Lagos. The terminals would rake in about US$700mn in foreign exchange annually through cement exportation to sub-Saharan African countries.
The chairman assured that the company would be opening export facilities within the terminals to export clinker and cement to its existing facilities both in Cameroon and other African countries.
“We have a lot of on-going projects aimed at increasing capacity, and by next year, we will not only export one million tonnes as we normally do now, but we will also be servicing both the domestic and other African countries from Nigeria,” the chairman said.
“Later in 2019, we will open export facilities in Lagos and Port Harcourt that will enable us to export clinker, initially to the 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, but they will also help to increase the output of our Nigerian plants.
“They will also help to improve job creation and increase prosperity in Nigeria, something of which all stakeholders can be proud of.”
Dangote described 2018 as the most successful for the company, as it recorded an increase in cement sales by 7.4 per cent to 23.5mn tonnes, and 11.9 per cent growth in revenues to US$2.5bn.