Tuesday, December 24, 2013

Dangote cement seeks help to acquire land, electricity

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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