Against the background of the skyrocketing price of cement in the market,
\nleading cement manufacturer, Dangote Cement Plc has released into the
\nmarket, a supply of 9 million tons of the commodity, to stem the price
\nhike.
\nPresident of Dangote Group, Aliko Dangote made this disclosure when the
\nPresident of Tanzania, Dr Jakaya Kikwete paid a facility visit to the
\n10.25 million Mtpa capacity Obajana Cement Plant in Kogi State at the
\nweekend.<\/p>\n
Dangote who had earlier told the Company shareholders during its 2013
\nAnnual General Meeting that his company had not increased cement price
\nwent ahead to publish in the dailies how much his cement is sold still
\nmaintaining its price despite increase in cost of production input.<\/p>\n
He reasoned that low production leading to reduced market supply as a
\nresult either turn around maintenance of its plant or shortage of gas must
\nhave been cashed in on by profiteers to shortchange members of the public
\nby deliberately hiking the price.<\/p>\n
Said he: “the recent scarcity in cement product in Nigeria is due tto low
\nproduction between January and March due to the yearly turnaround
\nmaintenance of the company\u2019s plants at Ibeshe and Obajana.
\nWe have released 9million tons of cement into the market to stem the tide
\nof scarcity and bring down the price.<\/p>\n
Therefore, Dangote told newsmen at Obajana that with full production
\nattained, his company quickly supplied about 9 million tons into the
\nmarket to flood the market and arrest the high price since he believed
\nthat once the supplies increased and even beating demand, the price as of
\nnecessity would come down.<\/p>\n
The Group President and the Tanzanian President flew into Obajana at the
\nclose of the World Economic Forum which held at the Transcorp Hilton
\nbetween May 7 and 9 in Abuja.<\/p>\n
Dangote said the visiting Tanzanian President was at the plant to see
\nthings himself as the company was building 3 million metric tons of cement
\nplant in that country.<\/p>\n
He said the cost of the plant is $600million and that construction work
\nhas reached 30 per cent completion. The plant when completed is expected
\nto be officially opened in 2015.<\/p>\n
Speaking, President Kikweto said he took time from the meeting in Abuja to
\nsee things himself, and he was convinced Dangote is a good business
\npartner his country could trust\u00a0 describing what he saw as \u2018wonderful.\u2019<\/p>\n
It would be recalled that only recently Kenyan Deputy Prime Minister
\nWiliam Ruto visited the Obajana Plant as Dangote Cement Plc is building a
\n3million metric tons of cement worth $600m in Kenya.<\/p>\n
Dangote Cement Plc has three plants in Nigeria. They are: Obajana Cement
\nPlant which produces about 10.25million metric tons, the Ibese plant which
\nproduces 6million metric tons and the Gboko plant which produces about
\n4million metric tons.<\/p>\n
Apart from in Tanzania and\u00a0 Kenya, Dangote Cement Plc is also building a
\n2.5million metric tons cement plant in Ethiopia and 1.5million metric tons
\ncapacity in The Zambia, as well as import and landing facilities along the
\ncoast of West Africa.<\/p>\n","protected":false},"excerpt":{"rendered":"
Against the background of the skyrocketing price of cement in the market, leading cement manufacturer, Dangote Cement Plc has released into the market, a supply of 9 million tons of…<\/p>\n","protected":false},"author":1,"featured_media":14069,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-26525","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n