Africa’s biggest producer of cement and Nigeria’s largest manufacturing company, Dangote Group, is to expand into three South American countries, after signing a preliminary joint venture agreement with an unnamed firm in that regard.
The private BusinessDay newspaper reported Thursday that the company’s Group Executive Director, Mr. Devakumar Edwin, who declined to name the countries, said the cement firm was looking at places with huge natural resources.
“The countries we’re looking at have huge natural resources and growth. There are many large players in that region that may easily try to shut down entry to new players, but there’s still large scope of doing business,” Mr. Edwin said.
He said the company is also expanding to Asia and has signed limestone mining rights in Indonesia and Nepal.
The Dangote Group has expanded its cement manufacturing to at least 11 African countries, including the Republic of Congo, Senegal, Zambia, South Africa, Cameroon, Tanzania, Ghana, Sierra Leone, Cote d’Ivoire and Liberia.