(Ecofin Agency) - Nigeria’s Dangote Cement announced a $322 million deal in Niger. The project concerns the construction of a clinker production unit, a gas-fired power plant and cement plant which is expected to deliver 4,500 tons per day.
Through this complex, scheduled to be completed by 2021, Dangote wants to close the cement production gap in this emerging country. Indeed, Niger is betting on the development of such facilities to support its economic growth as mentioned in the Economic and Social Development Program presented to the International Monetary Fund. In addition, the government is aiming high for its oil industry and a Niger-Benin pipeline is planned for that purpose.
It should however be noted that Dangote Cement is struggling to achieve its profitability expectations on the continent. During the first half this year, the group suffered a 37.3 billion naira loss for operations in Africa. Losses in H1 2018 was a bit more than 26 billion naira.