Billionaire, Aliko Dangote, on Thursday, June 4, 2015, launched a $500 million cement plant in Ethiopia.
Billionaire launches $500M cement plant in Ethiopia
The new plant is located in Mugher, a town close to the capital Addis Ababa and is expected to initially produce 2.5 million tonnes of cement a year.
Aliko Dangote commissions cement plant in Ethiopia
Ethiopia’s population of 90 million consumes about 70 kilogrammes of cement per capita annually as compared with Nigeria where the annual per capita consumption is 127 kilogrammes.
"We are going to double this plant," Dangote said in a speech, according to Reuters, adding that reliable power supply was one of the attractions that lured the investment to Ethiopia.
Ethiopia is one of Africa's fastest-growing economies and a recent construction boom has led to a shortage of cement.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Why our plane made emergency landing at Lagos airport, Air Peace clarifies
Over 75% of Katsina children are multidimensionally poor – UNICEF
PDP unveils 200-member campaign council for Ighodalo's guber election in Edo
Tinubu approves resumption of repair work on Third Mainland Bridge
Ondo Poll: Ganduje consoles Jimoh Ibrahim after crushing defeat in APC primary
FG to review recent price hike of DStv, GOtv packages amid public outcry
BREAKING: FG grants Air Peace right to commence Abuja-London flights - Keyamo
Deputy who dumped Akeredolu clinches PDP governorship ticket
Gov inaugurates 2nd phase of palliative distribution to poor Enugu residents
ADVERTISEMENT