Cement Price Will Soon Fall Due To Increased Production -Dangote
Business News, Latest Headlines Monday, September 1st, 2014
Oyewale Oyelola
Dangote Cement Plc has assured Nigerians that the price of cement will soon reduce due to increase production in all its three key plants in the country with simplify distribution network.
The company in a statement made available to African examiner on Sunday said the planned production increase would result to crash the price.
The President, Dangote Group, Aliko Dangote, said the company had concluded plans to expand the capacity of its production lines in Obajana, Kogi State; Gboko, Benue State, and Ibese, Ogun State, from the current 19.25 million metric tonnes by additional nine million metric tonnes by the end of the year.
He further stated that the expansion would move the output of the three manufacturing plants to about 28 million metric tons, which would position the company as the biggest cement production entity in Africa.
Dangote said the management of the company would engage truck operators conveying the product to circulation points across the country to ensure effective and efficient distribution of the products, thus leading to price reduction.
He added that the production of the new 42.5 grade of cement in the country was born out of the quest to save the nation from the embarrassment of mounting incidences of building collapse, with its attendant loss of lives and investments on buildings, which run into billions of naira annually.
Short URL: https://www.africanexaminer.com/?p=16890
