Aliko Dangote, one of Africa’s wealthiest men, announced a $400 million investment to revive a second production line at the Mugher cement plant in Ethiopia. The expansion aims to double the facility’s annual capacity to 5 million tons.
Despite challenges, including regional violence and the 2018 killing of three staff members, Dangote Cement said it has successfully repaid all loans and repatriated profits.
The expansion project is expected to be operational within the next 30 months. Dangote also revealed plans to establish a new greenfield cement grinding unit with a capacity of 3 million tons per annum. Additionally, in collaboration with state-owned Ethiopian Investment Holdings, his company will invest in the Omo Kuraz sugar factory.
