LOME, Nov 8 (Reuters) - Nigerian industrial conglomerate Dangote Group has signed offers to make ph
LOME, Nov 8 (Reuters) – Nigerian industrial conglomerate Dangote Group has signed offers to make phosphate into fertiliser and construct a cement manufacturing facility in Togo, the small West African nation mentioned on Friday.
Togo’s huge phosphate sources are principally exported of their uncooked type, and Dangote’s challenge would course of a few of that phosphate to make fertiliser in-country, aiming to export it to the area.
The price of the challenge is round $2 billion, an announcement from Togo’s authorities mentioned, with out specifying how a lot of that might come from Dangote.
Dangote additionally signed a deal to construct a cement manufacturing facility at a value of round $60 million. Development of the manufacturing facility is about to start out within the first quarter of 2020 and it’ll start producing by the tip of subsequent 12 months, the assertion mentioned.
The cement would serve the Togolese market in addition to export to neighbouring nations.
The deal marks Dangote’s first push into Togo, setting billionaire Aliko…