… to turn out to be primary building firm on the earth
Dangote Group has signed a $400 million building gear settlement with XCMG Construction Machinery Co., Ltd., one in every of China’s main producers of building equipment, in a transfer set to speed up the growth of the Dangote Petroleum Refinery & Petrochemicals from 650,000 barrels per day to 1.4 million barrels per day, positioning it to turn out to be the biggest refinery on the earth.
The settlement will allow the Group to amass extra wide selection of superior building gear to assist ongoing and forthcoming tasks throughout refining, petrochemicals, agriculture and large-scale infrastructure growth. The new gear will complement current property deployed for the refinery growth, which is predicted to be accomplished inside three years.
Beyond refining, the growth programme will see polypropylene manufacturing improve from 900,000 metric tonnes every year to 2.4 million metric tonnes every year. Urea capability in Nigeria will probably be tripled from 3 million to 9 million metric tonnes every year, along with the three million metric tonnes every year capability in Ethiopia, strengthening the Group’s place as the biggest urea producer globally.
Production capability for Linear Alkyl Benzene (LAB) will even be elevated to 400,000 metric tonnes every year, positioning the Group as the biggest producer in Africa and strengthening provide to the detergent and cleansing brokers manufacturing trade. Additional base oil manufacturing capability additionally kinds a part of the broader growth programme.
In a press release, the Group described the settlement as a strategic funding geared toward deepening its building footprint and accelerating its ambition to construct a $100 billion enterprise by 2030.
“The additional equipment we are acquiring under this partnership will significantly enhance execution across our projects. With this investment, we are positioning ourselves to become the number one construction company in the world,” the assertion stated.
Dangote Group is at present accelerating growth and regional market growth because it advances towards its long-term imaginative and prescient of constructing a $100 billion enterprise by 2030.
