Dangote plans to construct cement plant in Zimbabwe

 Aliko Dangote the owner of Dangote Group recently said that he would construct a new cement plant in Zimbabwe in a move to boost foreign investment in the Southern Africa country which is in dire need of such kind of investment.

Dangote who owns Dangote Cement also noted during his meeting with the Vice President of Zimbabwe, Emmerson Mnangagwa that he was also intending to invest in coal mining and power generation.
Mr. Dangote made it clear that he had made up his mind to construct a cement plant in Zimbabwe and that was the reason being his meeting. He also had plans to meet President Robert Mugabe.
Dangote further noted that upon completion of the cement plant in Zimbabwe, 1.5million tonnes of cement would be produced yearly. Construction work is set to begin in the first quarter of 2016 with the cost for construction of the plant not given.
The government of Zimbabwe halved this year’s growth target to 1.5 percent due to a scorching drought that hit the key agriculture sector.
Zimbabwe has been struggling for five years to recover from a catastrophic decade of contraction that was marked by billion% hyperinflation and widespread food shortages, and some analysts say Zimbabwe could tip back into a downturn this year.

Posted on : 30 Nov,-0001

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