Dangote set to expand cement empire to Asia

Aliko Dangote says he’s expanding his cement empire to Asia and it will be operational in 30 months.The 58-year-old Nigerian billionaire said Dangote

Cement should complete a factory in Nepal by the end of 2017. It has received 90% of the regulatory approvals needed to start construction in the south Asian nation.

“It’s going to be one of the first factories for us to build outside our comfort zone, outside Africa,” Dangote said in a June 16 interview at his office in Lagos. Further expansion beyond Africa mainly “will happen through acquisition,” he said.

Dangote, who has never visited Nepal, will invest $400 million in the country to build a cement plant with a capacity of 2 million metric tons. He’s also eyeing South America and surveying for limestone in Brazil, where he registered a company two years ago.

Dangote Cement has been expanding in new African markets to tap demand for building materials as governments invest in infrastructure. The company is planning $1 billion in capital expenditure this year to increase capacity from 29 million tons.

“In the future we will try and replicate the other businesses outside Nigeria,” Dangote said, referring to his interests other than cement. “But we have so much we’re invested in right now, so we want to continue with just cement, cement, cement for the next two, three years.”