LAGOS, Nigeria — Nigerian billionaire Aliko Dangote’s Dangote Cement group will bring in a reported $275 million for construction work on a cement plant in Keita, near Tahoua, in western Niger.
The construction work is expected to last 26 months and will include the construction of a 100-megawatt coal power plant, according to the country’s Ministry of Industry.
The plant will have an annual capacity of 2.5 million tons and is expected to bring down the price of cement, in a country that currently imports 80% of its cement from neighboring Nigeria and Benin.
Niamey authorized Dangote Cement’s local subsidiary to conduct a research on “coal and related substances” on four permits in the Agadez and Tahoua regions. A government statement said that the company had agreed to invest $2million on each permit over the next three years. It also agreed to finance collective infrastructure worth up to $ 50,000 per year for each of the areas hosting the permits.