Business Briefs
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DANGOTE Group on Tuesday inaugurated its 1.5 million metric tonnes per annum (mmtpa) capacity cement plant valued at $400 million with 30 megawatts coal plant to power the factory. The project was inaugurated by Edgar Chagwa Lungu, Zambia President, at Masasiti district, Ndola, Zambia.
President Lungu said Zambia has continued enjoying very cordial bilateral relationships with Nigeria over the years, assuring them that his government would continue to encourage private sector initiatives. “I invite other investors to genuinely come and invest in other sectors in Zambia,” he said.
In his speech, Aliko Dangote, president, Dangote Group, said the Zambian cement plant was the sixth out of his 14 cement plants in Africa to have started productions, adding that four new plants would be inaugurated before the end of this year. “We are spearheading the economic revolution in several African countries; we are a strong advocate of Africans investing in Africa,” he said.
According to Dangote, the investment has positioned Nigeria as the economic leader in Africa. He said the event was more about economic diplomacy rather than political diplomacy. “So what Dangote Cement is doing here is strengthening Nigeria’s position indisputably as a leader of Africa, economically and politically.”
Speaking at the events, Yemi Osinbajo, vice-president, said the project was very significant to bilateral relationship that has existed between Nigeria and Zambia. He lauded the government of Zambia and the people for having approved the projects and nurtured it to completion.
The event was attended by Adams Oshiomhole, Edo State governor and his wife; Tony Elumelu, chairman, UBA Plc; and Kola Jamodu, chairman, Nestle Nigeria Plc; Niyi Adebayo, former Ekiti State governor, among others.
— Aug 17, 2015 @ 01:00 GMT
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