Togo: Dangote inks two major deals with the government to invest in the cement and phosphate sectors

Mining

Saturday, 09 November 2019 13:52

Togo: Dangote inks two major deals with the government to invest in the cement and phosphate sectors

(Togo First) - Nigerian mogul Aliko Dangote has signed two major deals with Togo, both amounting to a total of $2.060 billion. The agreements were signed by Dangote and Togo's minister of mines, Marc Ably-Bidamon

The first deal which corresponds to an investment of about $2 billion will focus on valorizing and transforming Togolese phosphate in phosphate fertilizers for export across West Africa. This project should be launched by Dangote Industries Limited before the year ends, according to a release from the Togolese Presidency's Information and Communication Directorate.

The second deal, an investment of $60 million, concerns the construction of a new cement factory in Togo. The facility should produce 1.5 million tons of cement using Togolese and Nigerian clinker. The output will satisfy both the local demand and that of neighboring countries. Five hundred jobs will be created under this project.

With the new cement plant, which is expected to come online by the end of the coming year, Togo will be having four cement producers. The other three are HeidelbergCement (CIMTOGO active in Lomé and Kara), WACEM and Diamond Cement.

Séna Akoda

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