Africa’s richest man, Alhaji Aliko Dangote, has revealed that he is expanding his cement empire to Asia which will be operational in 30 months.
Alhaji Aliko Dangote, has announced the expansion of his cement empire to Asia which will be operational in 30 months time.
The Nigerian business mogul said Dangote Cement Plc should complete a factory in Nepal by the end of 2017.
Dangote said the factory has received 90 per cent of the regulatory approvals needed to start construction in the South Asian nation hit by two earthquakes this year.
“It’s going to be one of the first factories for us to build outside our comfort zone, outside Africa.”
"Further expansion beyond Africa mainly will happen through acquisition,” he said.
Dangote will invest $400 million to build a cement plant with a capacity of as much as two million metric tonnes.