Profile cover photo
Profile photo
Dangote Group Plc
Dangote Group is Nigeria’s premier diversified business conglomerate with a reputation for excellent business practices and product quality. Its operational headquarters is in Lagos - Nigeria, West Africa.
Dangote Group is Nigeria’s premier diversified business conglomerate with a reputation for excellent business practices and product quality. Its operational headquarters is in Lagos - Nigeria, West Africa.

Dangote Group Plc's posts

Post has attachment

Post has attachment

Post has attachment
Explore the world in style for less with Emirates’ three day Business Class Sale. Book before June 6 and enjoy award-winning service, lie-flat seats, multi-course meals, fine wines, and up to 1,500 channels of entertainment

Post has attachment
Dangote Group to invest $3.9n in new cement plants

Dangote Group has unveiled its plans to invest about $3.9billion (N585 billion) in the construction of additional cement lines both within and outside the country within the next few months, as part of its strategy to further strengthen its market dominance and to crash the price of the product. Dangote Cement currently accounts for more than 50 percent of the Nigerian market share.

Mr. Devakumar Edwin, Group Executive Director, Business Development, Dangote Group, who disclosed this in Lagos on Monday at a press conference after the contract signing ceremony between the Group and Sinoma International Engineering Company Limited, a Chinese firm, which is a major global player in engineering, procurement and construction (EPC) projects, said construction activities are expected to take off within the next three months.

According to him, some of the new cement lines, which will have a capacity of 1.5 million metric tonnes per annum, will be built in the following African countries namely: Ethiopia, Tanzania, Republic of Congo and Gabon. He added that the Group plans to construct a 3.0 million metric tonnes per annum plant in South Africa and one grinding plant in Cameroon with a capacity of 1.5million metric tonnes per annum. Apart from the Cameroonian project, which will take up to 17 months to complete, he stated that all the others would be delivered within 27 months from the date of commencement.

In addition, Edwin said the Group plans to construct a new cement line at its Obajana Cement Plant with a capacity of 3.0 million metric tonnes per annum as well as two additional cement lines at Ibese in Ogun State with total capacity of 6 million metric tonnes per annum. He expressed the hope that Dangote Cement concerns in Nigeria would be in a position to produce 20 million metric tonnes per annum by December this year. All of these, he noted would help ensure that the price of cement in the country drops drastically.

Explaining the choice of the Chinese company for the project, he pointed out that Sinoma, which is one of the biggest construction companies in the world understands the peculiarities of doing business in Africa and offers cheaper cost of construction when compared to its European counterparts. He added that the Group envisages a consolidated cement production capacity of about 50 million metric tonnes per annum within the next five years, based on its ongoing projects, which are at various stages of completion.

The brief contract signing ceremony was presided over by Aliko Dangote, President/Chief Executive, Dangote Group and Mr. Wu Shoufu, Director & President, Sinoma International Engineering Company Limited as well as top Directors of both companies.

Dangote Cement, which is currently the largest quoted company in West Africa, embarked on a pan-African investment drive as part of its vision of making the continent self-sufficient in cement production. This informed the signing of a $400 million Investment Promotion and Protection Agreement (IPPA) with the Government of Zambia for the setting up of a 1.5 million metric tonnes per annum cement plant in that country, last December. The project is expected to be completed in 2013. The Group’s 1.5 million metric tonnes per annum cement plant in Senegal is also expected to be commissioned in November this year.

Post has attachment
Dangote Cement Plc (DCP) has declared a dividend of 125 kobo per share for the financial year ended December 31, 2011. The company also declared bonus issue of one share for ten shares previously held.

According to the company’s financial statement released on the floor of the Nigerian Stock Exchange (NSE) yesterday, all performance measurement indicators trended upwards.
The company recorded a turnover of N235.70 billion compared to N202.57 billion indicating a 16 percent growth while gross profit rose to N139.08 billion in contrast to N121.28 billion representing a 14.69 percent increase.

Operating profit was on the upward swing rising by 13.90 percent, from N102.97 billion to N117.33 billion while profit after taxation while retained profit surged from N105.32 billion to N125.48 billion.
President of Dangote Group, Alhaji Aliko Dangote assured the shareholders of good returns on their investments, stating that the significant contributions of the new line in Obajana and commissioning of the six million metric tons Ibese Cement plant this year, will positively affect the company’s turnover and ultimately returns on shareholders investments.

In the 2010 financial year, DCP posted a turnover of N202.565 billion, as against N189.6 billion recorded for the preceding year. While the company’s profit before tax rose by 58.9 per cent to N101.33 billion from the preceding year’s N63.8 billion, profit after tax increased by 73.7 per cent to N106.6 billion from N61.4 billion in 2009.

DCP is planning to list on the London Stock Exchange next year. Already the largest cement producer in sub-Saharan Africa, Dangote Cement is more than doubling capacity this year to 21m metric tonnes, and wants to reach 43m tonnes in 2015. Besides Nigeria, where it has three plants and 70 per cent market share, the company has contracts to construct factories in eight African countries, from Senegal to South Africa to Ethiopia.

The expansion comes at a time of fast growth in Africa, with the IMF forecasting that regional economies will expand by 5.75 per cent this year. This is boosting spending on infrastructure and housing and driving demand for cement.

Morgan Stanley and JPMorgan have been appointed as co-leads for the London share issue.

Post has attachment
Oil and Gas
9 % Investment in Block I in Joint Development Zone ( JDZ ) of Nigeria Sao-Tome along with Chevron Texaco and Exxon Mobil
10 % Investment in Block III in JDZ of Nigeria along with Anadakko as Operator
6 % Investment in Block 315 in Nigeria along with Statoil and Petrobas as operators
The Group is a strategic investor in a number of upstream oil and gas projects in Nigeria and is at an advanced stage of project development in the downstream sector.

The Group has also ventured into power generation (coal), gas exploration and fertiliser production.
Wait while more posts are being loaded