Economy & Market

Dangote plans $20 billion investment across sectors

Published

9 years ago

November 30, 2016

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The Dangote Group has said that it was planning to invest over $20 billion and engage over 200,000 more workers in various projects to impact the Nigerian and African economy by 2020.

Group Executive Director, Dangote Group, Mansur Ahmed, listed some ongoing and new projects undertaken by the company to realise that objective.It include a refinery, petrochemical, cement, salt, rice, sugar, tomato processing and gas plants, as well as agricultural projects to promote food security and save foreign exchange. ?The gas project will help industrial and manufacturing, energy, power and electricity supply. All these will take $20 billion of investments in different sectors to impact on several areas of our economic life, particularly employment,? he said.?By the time we finish all the investments in refineries and petrochemical, fertiliser plants, agriculture, and others, the company should be able to increase its labour force to about 250,000 from the current 15,000, with over $100 million saved from importation of rice, sugar, rice, tomato importation, and $6-$10 million earnings every year from exports of these items,?he added.

Concrete

Shree Cement reports 2025 financial year results

Published

5 days ago

June 17, 2025

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Shree Cement posted revenue of US$2.38 billion for FY2025, marking a 5.5 per cent decline year-on-year. Operating costs rose 2.9 per cent to US$2.17 billion, resulting in an EBITDA of US$528 million—down 12 per cent from the previous year. Net profit fell 50 per cent to US$141 million. The company reported cement sales of 9.84Mt in Q4 FY2025, a 3.3 per cent increase from 9.53Mt in Q4 FY2024, with premium products making up 16 per cent of total sales.

Image source:https://newsmantra.in/

Concrete

Rekha Onteddu to become director at Sagar Cements

Published

5 days ago

June 17, 2025

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Sagar Cements has announced the appointment of Rekha Onteddu as a non-executive independent director, effective 30 June 2025. According to People in Business News, Rekha Onteddu is currently serving in a similar capacity at Andhra Cements, the parent company of Sagar Cements.

Image source:https://sagarcements.in/

Concrete

India’s cement consumption set to rise

Published

5 days ago

June 17, 2025

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According to a Moody’s report, India’s cement consumption is projected to rise by 50 per cent over the next five years, increasing from 445 million metric tons per annum (MMTPA) in FY24 to 670 MMTPA by 2030. This growth is expected to be driven by government infrastructure spending and rising housing demand, with an anticipated annual growth rate of 6-7 per cent. To meet this demand, major cement companies are likely to continue acquiring smaller, less profitable firms.

Image source:https://www.telegraphindia.com/