Dangote Cement in Tanzania Runs on Gas Turbines as Sales Volume Increase

  • Dangote Cement in Tanzania Runs on Gas Turbines as Sales Volume Increase

Management of Dangote cement has announced that its cement plant in Tanzania now runs on Gas Turbines; an engine at the heart of the power plant that produce electric currents.

The company further gave indication of booming business as it revealed that its Senegal plants produced sales; 100 per cent more than its rated capacity.

They also revealed that overall, the company’s Pan African sales volume increased by 2.7 per cent to nearly 4.7 million tons within a six-month period which ended on June 30th 2019.

The management said that investors will once again smile to the banks as these are good signs of better days. It would be recalled that in 2018, last year, the company paid about N272.6 billion as dividends to shareholders. This translates to N16 per 50kobo share, representing an increase of 52.4 per cent against total dividend of N178.9 billion or N10.50 per share paid to shareholders in 2017.

Recently, Chairman of the company, Aliko Dangote said that as a way of improving market shares of the company, its cement terminals in both Lagos and Rivers states would be concluded before the end of 2019.

He explained that the terminals were delayed by equipment suppliers and that upon completion, these terminals are estimated to bring in a whopping $700 million in foreign exchange through cement exportation to sub-Saharan Africa; adding that the company would also open export facilities within the terminals to export clinker and cement to its existing facilities in African countries including; cameroun, Ghana, Sierra Leone and Congo.

He said, “Later in 2019, we will open export facilities in Lagos and Port Harcourt that will enable us export clinker initially to our grinding facility in the Cameroun and then to new grinding plants we are building in West Africa…Not only will these generate useful foreign currency for Dangote Cement to support other expansion projects outside of Nigeria, they will also help to increase the output of our Nigerian plants”.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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