Dangote new investiment
Aliko Dangote, the Nigerian business magnate and founder of the Dangote Group, has made several new investments in recent times. Here are a few examples:
- Dangote Refinery: In 2020, Dangote Group announced a $12 billion investment in the construction of a 650,000 barrels-per-day refinery in Lagos, Nigeria. The refinery is expected to be one of the largest in the world and will help to reduce Nigeria's reliance on imported refined petroleum products.
- Dangote Fertilizer: In 2020, Dangote Group also announced a $2 billion investment in the construction of a new fertilizer plant in the Niger Delta region of Nigeria. The plant will have a production capacity of 3.6 million metric tons of urea per annum.
- Dangote Sugar: In 2020, Dangote Group acquired a 64% stake in the Savannah Sugar Company Limited, a sugar refinery in Nigeria. The company plans to invest $150 million in the refinery to increase its production capacity.
- Dangote Cement: In 2020, Dangote Group announced a $100 million investment in the expansion of its cement plant in Obajana, Nigeria. The expansion will increase the plant's production capacity by 3 million metric tons per annum.
- Dangote Petrochemical: In 2020, Dangote Group announced a $10 billion investment in the construction of a petrochemical complex in the Lekki Free Trade Zone, Lagos, Nigeria. The complex will include a polypropylene plant, a polyethylene plant, and a methanol plant.
- Dangote Logistics: In 2020, Dangote Group acquired a 95% stake in the Nigeria-based logistics company, Frigoglass Industries Nigeria Limited. The company plans to invest $50 million in the logistics business to increase its capacity and efficiency.
- Dangote Rice: In 2020, Dangote Group announced a $1 billion investment in the production of rice in Nigeria. The company plans to establish a rice processing plant in the country and import rice from other countries to meet local demand.
These are just a few examples of Dangote's new investments. The company has a diverse portfolio of businesses and continues to invest in various sectors, including energy, agriculture, and infrastructure.