Dangote’s six million metric tons cement plant in Calabar, Cross-River State will commence operations in July, the Chairman, Dangote Group, Alhaji Aliko Dangote has said.
Speaking at the weekend during this year’s Annual General Meeting (AGM) of the Company in Lagos, he said the Calabar plant will be ready within the next 60 days.
A statement from the company quoted Dangote as making the disclosure while fielding questions from reporters after the meeting. He explained that the Calabar plant was almost completed and that the location was strategic as it was meant to serve the consumers locally and in Central African countries like Cameroon and Gabon.
Dangote pointed out that with the planned expansion of Ibese plant by another two lines of three million metric ton per anum (mtpa) each, the June 11 commissioning of the Obajana Plant line 3 and the ground breaking of the line 4 as well as other operations in 14 other African countries, Dangote cement will hit 60 million metric tons per anum within the next three years.
The Ibese plant would be expanded with the addition of 6 million mtpa line 3 and 4 within the next 26 months, and that all the expansion works were meant to achieve the target of Dangote cement of being the largest cement producer in the world.
By the Dangote Cement calculation, of the 60 million mtpa, 55 per cent would be local consumption while the rest 45 per cent will be for export to other sub-Saharan African countries.
“We appreciate our customers and we will always protect their interest. As much as we have the patriotic zeal to ensure our country is self-sufficient in cement production and become exporting nation to help her industry grow, so also we are mindful of the need to have the best quality product”, he added.
The industrialist explained that the price of Dangote cement has remained same over the years despite the fluctuation of the foreign exchange and the increasing cost of energy.
During the AGM, Dangote had announced a profit of N125 billion and declared a bonus of one for every ten shares held by its investors and endorsed a dividend pay-out of N1.25.
The operating profit rose from N102. 969 billion posted during the same period in 2010 to N117. 332 billion.
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