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| Dangote |
I see Nigerians flocking to Cameroon to seek for jobs at this factory :). Many may ask why he took it to Cameroon...Well I'll leave that to the recent uproar in Nigeria. Protecting investments I believe. Well done Oga Dangote.
Read details after the break
Officials in Doula, Cameroon Monday confirmed resumption of construction activities at Dangote Cement’s $115 million plant in Douala after a land dispute that has been a resolved, halted operations at the site.
Work on the Nigerian cement giant’s 1.5 million tonnes-a-year plant in the Central African country had begun last September, and was due to last 18 months. The land dispute, however, halted progress early this year after the region’s indigenous tribe (the Sawa people) filed an injunction against the project.
Sawa representatives complained about the violation of their sacred site on the banks of the Wouri River.
However, Joseph Beti Assomo, the governor of the Littoral Region under which Douala falls, confirmed that work has begun on Dangote’s cement factory pursuant to “instructions from the Presidency of the Republic”.
Speaking to local media, the governor said: “Let me seize this opportunity to inform you that the mix-ups surrounding the site of the Dangote project have been entirely dissipated to enable work resumption which must not be interrupted again” reaffirming the resolution of the dispute.
Although, Sawa representatives were not available to comment on the development as at Monday, residents in Douala also confirmed resumption of construction work.
Nigerian billionaire industrialist Aliko Dangote cement interests spans across almost all regions in Africa. His rapidly expanding cement company recently revealed plans for a valuation of up to $40 billion via a London listing, which has been set for next year.
Recently, the company launched operations at the 5.25million mt/pa Obajana Plant Line 3 in Nigeria. It also announced plans for ground breaking fourth line of the plant, which is expected to generate additional 3 million mtps, strategically positioning the company as one of the largest cement producers in the world.
Dangote’s cement company also accounts for one-third of the market capitalisation on the Nigerian Stock Exchange, which he is set to confirmed as president.
Source: Ventures Africa
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