Africa's largest cement producer, Dangote Cement Plc plans to export about 8 metric tonnes of the commodity to generate an income of about $700 million at the end of the year.
Dangote, who spoke at the company’s yearly general meeting in Lagos, that the terminals, which were delayed by equipment suppliers, would rake in about 700 million dollars in foreign exchange annually through cement exportation to sub-Saharan African countries.
He said that the company would be opening export facilities within the terminals to export clinker and cement to its existing facilities both in Cameroun and other African countries.
“Later in 2019, we will open export facilities in Lagos and Port Harcourt that will enable us export clinker initially to our grinding facility in Cameroun and then to new grinding plans we are building in West Africa.
“Not only will these generate useful foreign currency for Dangote Cement to support other expansion projects outside of Nigeria, but they will also help to increase the output of our Nigerian plants, ” Dangote said.
He said that the company would be exporting cement through the terminals to Ghana, Cameroun, Sierra Leone and Congo, among others.
Dangote said that the terminals would make Nigeria the biggest exporter of cement in sub-Saharan Africa.
Dangote said that the project would help to improve job creation and increase the prosperity of the country.
He projected that by the time the company commences export of its commodity, its foreign exchange earnings will be second to oil revenue for the country.
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