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Dangote invests $5billion on Cement in Nepal
Chairman, Dangote Group, Alhaji Aliko Dangote

Dangote invests $5billion on Cement in Nepal

Africa’s richest businessman, Alhaji Aliko Dangote has taken another giant step toward growing his business empire-he has been given the necessary approvals to invest in cement in the South East Asian nation of Nepal.

According to our sources, about two months ago, the Investment Board of Nepal gave Dangote the approval to invest in a cement factory in Nepal and on Tuesday, Dangote Cement’s CEO K.R. Rao had a meeting with the Nepalese Minister of Finance, Shankar Prasad Koirala where he stated that the company has been exploring possible areas in Dang, Dhading and Makwanpur while also requesting that his company will need 30 MW of power for the factory.

Roa revealed that though the factory will be needing 60 MW, Dangote will generate 30 MW through its own themal plant.

He stated that Dangote will invest $5billion in the first phase of the project in Nepal, adding that production of cement will start later this year while hundreds of Nepalese will be gainfully employed in the factory.

Dangote Plant

Dangote Plant

The elated Minister said that it was the government’s policy to help develop infrastructure for companies investing in the country, and urged Dangote to explore many other investment possibilities in other parts of the country.

With its Headquaters in Nigeria, Dangote is one of the leading producers of cement on the African continent, its ambtious African expansion plans started years back has led to factories and investments in Ghana, Cameroun, Benin, Ethiopia, Senegal, Tanzania, South Africa, Zambia and Republic of Congo.

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