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 ChinaLtd for two cement plants, he told Reuters.
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."
Nigerian billionaire Aliko Dangote speaks during the first plenary session of the World Economic Forum (WEF) in Abuja May 8, 2014.
The deal included China Export & Credit Insurance Corporation (Sinosure).
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