Aliko Dangote, Africa’s wealthiest businessman, is set to invest $400 million to expand his cement production in Ethiopia. The project aims to revive a second production line at the Mugher cement plant, increasing its annual capacity to 5 million tons.
The plant, operational since 2015, has faced security challenges, including attacks on company assets and the killing of key staff members in 2018. Despite these setbacks, Dangote confirmed that all loans have been repaid and profits successfully repatriated.
The expansion, expected to be completed in 30 months, will also include a new cement grinding facility with a 3 million-ton capacity. Additionally, Dangote announced plans to collaborate with Ethiopian Investment Holdings on the Omo Kuraz sugar factory project.