Dangote Africa's richest man signs Chinese bank loan for 2 cement plants

"The interest rate is okay, quite favorable with me," Dangote said, without elaborating. "It's for my two cement companies that we are establishing in Nigeria."

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Aliko Dangote play Nigerian billionaire Aliko Dangote speaks during the first plenary session of the World Economic Forum (WEF) in Abuja May 8, 2014. (REUTERS/Afolabi Sotunde)
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Dangote Group, the company owned by Africa's richest man Aliko Dangote, signed a deal on Tuesday for a $2 billion loan from the Industrial Commercial Bank of China Ltd for two cement plants, he told Reuters.

"The interest rate is okay, quite favorable with me," Dangote said, without elaborating. "It's for my two cement companies that we are establishing in Nigeria."

The deal included China Export & Credit Insurance Corporation (Sinosure).

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