Dangote
Cement has sought government help to acquire land for its $800 million cement
industry in Nepal.
In a meeting
with finance minister Shankar Prasad Koirala, here at his office today, the
Nigerian company's chief executive K R Rao said that the company is looking for
the land in Dang, Dhading and Makwanpur districts to establish the cement
factory.
Dangote
Cement needs 60 megawatt (MW) of electricity for full capacity operation of the
plant, he said, asking government's help in providing 30 MW of electricity from
the national grid as the company is planning to install Thermal Plant of 30 MW
capacity to operate cement industry.
Of the three
proposed districts to establish cement industry, Dhading has no bridge to
access the industry, Rao added.
Koirala, who
is also trade, commerce and supplies minister, said the government has
prioritised foreign investment and ready to help promote them. "There will
be no scarcity of energy, when the industry will come into operation," the
minister added.
The
government has also focused on developing infrastructure for the cement
industries, he said, asking the Nigerian company to look for more investment
potential in Nepal.
The Nigerian
company – Dangote Group – had applied to the Investment Board with a $800
million cement factory proposal in Nepal. The board had on February 13 accepted
the company’s foreign direct investment (FDI) proposal. The Cabinet had also
endorsed the Dangote Group – one of Nigeria’s most diversified business
conglomerates – proposal.
Dangote Group president and
chief executive Aliko Dangote has been ranked as the world’s 76th richest
person – with a networth of $12billion – by the Forbes magazine. Headquartered
in Lagos of Nigeria, the group’s Dangote Cement is the largest cement producer
in Africa.
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