The President of Cameroun, Paul Biya, on Thursday commended the President of Dangote Group, Aliko Dangote’s deep insight and massive investments in cement manufacturing across Africa.
Biya made the remark at the inauguration of the 1.5 million metric tonnes per annum (mmtpa) Dangote Cement Grinding Plant in Douala.
The president, who was represented at the inauguration ceremony by the Prime Minister, Philemon Yang, also laid the foundation stone for 200m jetty in Base Elf area, Port Autonome De Douala.
Speaking at the ceremony, he lauded the Dangote Group’s President for investing in Cameroun which he said is consistent with his government’s policy of inviting industries to contribute to the growth of the Camerounian gross domestic product. He added that Dangote had shown willingness to play a significant role in the industrialisation of the Camerounian economy.
According to him, the new cement grinding plant and jetty are clear indications that Cameroun is open and welcome to investments from Nigeria and Africa adding that as a liberal economy, the country supports investment from the private sector.
Dangote in his speech described the plant as “our largest Greenfield project in a neighbouring country with which we not only share a boundary but also a long history of brotherly relationship dating from our colonial days. Owing to the rich culture and history that we share, we have a better understanding of Cameroun.”
He disclosed that due to the warm welcome given to Dangote Cement, the company has decided to begin work on the second phase of the plant, which will see the doubling of its capacity from the current 1.5 mmtpa to 3.0 mmtpa.
He said, “Our desire to increase our investment with the Phase 2 project is based on not only the fast growth rate of the Camerooniun economy but also due to the warm welcome extended to us and the enabling environment created by the government of Cameroun.
Our choice of Cameroon for this multi-million dollar investment is quite strategic. Cameroun is the largest economy in Central Africa and is well endowed with abundant natural resources. The country also enjoys political stability, adequate security and growing infrastructural development. In addition, President Biya has created an enabling environment that has continued to attract investors both from within and outside the African continent.”
He said that the desire to ensure that Africa becomes self-sufficient in cement production informed yesterday’s signing of a $4.34 billion contract with Sinoma International Engineering Company Limited, a Chinese construction giant, for the construction of 11 new cement plants in 10 African countries, and Nepal in Asia.
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