May 25 (Lagos) - Dangote Cement Plc (DANGCEM) announced plans to increase their production capacity to 60 million metric tonnes by the end of financial year 2015.
President of Dangote group, Aliko Dangote revealed that a new production facility in Calabar would be commissioned in July of this year. This facility will add 6 million metric tonne production capacity and will serve the markets of eastern Nigerian as well as Cameroun.
He explained that the company currently has a capacity of 14 million metric tonnes in Nigeria from three production facilities in Gboko, obajana and Ibese.
Outside Nigeria, DANGCEM will commission a production facility in Senegal in the first half of this year. Company is also adding 3000 tonnes per day cement plants in Zambia, Tanzania, Ethiopia, Congo and Gabon. Cement grinding units have been built in Sierra Leone, Ivory Coast, Liberia, Ghana, Tanzania and Cameroun.
President of the group also said that investors in DANGCEM will continue to reap rewards of Company's impressive growth through dividends. For 2011, DANGCEM shareholders will receive dividend of N 1.25k per share as well as bonus shares of 1 for 10.
Shares of DANGCEM currently trade for N 112.25 at the Nigerian Stock Exchange in Lagos. The company also plans to list on the London Stock Exchange by 2013. DANGCEM is the most capitalized company that is listed on the NSE.
reporting for easykobo.com on Friday, May 25 2012 from Lagos, Nigeria.