You are currently viewing our desktop site, do you want to visit our Mobile web app instead?
 Registered users can save articles to their personal articles list. Login here or sign up here

Dangote enters Togo with fertiliser and cement deals

The deal is said to be valued at $2bn.

Nigerian industrial conglomerate Dangote Group has signed deals to make phosphate into fertiliser and build a cement factory in Togo, the small West African country said on Friday.

Togo’s vast phosphate resources are mostly exported in their raw form, and Dangote’s project would process some of that phosphate to make fertiliser in-country, aiming to export it to the region.

The cost of the project is around $2 billion, a statement from Togo’s government said, without specifying how much of that would come from Dangote.

Dangote also signed a deal to build a cement factory at a cost of around $60 million. Construction of the factory is set to start in the first quarter of 2020 and it will begin producing by the end of next year, the statement said.

The cement would serve the Togolese market as well as export to neighbouring countries.

The deal marks Dangote’s first push into Togo, setting billionaire Aliko Dangote’s firm up for competition against Germany’s HeidelbergCement, which operates three companies there, and Fortia Cement. 

Get access to Moneyweb's financial intelligence and support quality journalism for only
R63/month or R630/year.
Sign up here, cancel at any time.

COMMENTS   0

To comment, you must be registered and logged in.

LOGIN HERE

Don't have an account?
Sign up for FREE

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR

Podcasts

NEWSLETTERS WEB APP SHOP PORTFOLIO TOOL TRENDING CPD HUB

Follow us:

Search Articles:Advanced Search
Click a Company: