Dangote Group, controlled by Africa’s richest man, agreed on a $3.3 billion loan with 12 Nigerian and foreign lenders to build the country’s biggest oil refinery and petrochemical and fertilizer complex.
Dangote Cement Plc, whose merger with Benue Cement Co. makes it Africa’s biggest producer of the building material by capacity, plans to raise capacity more than fivefold by 2015 through expansion amid a construction boom in Africa, Chief Operating Officer Kunle Alake said.
Dangote Cement Plc , Nigeria’s biggest company by market value, plans to raise funds in a London share sale before the end of 2012 as it moves to more than double output in two years, Chairman Aliko Dangote said.
Dangote Cement Plc , Africa’s biggest producer of the material by capacity that listed in Nigeria today, will sell as much as $3.5 billion in shares in public offerings over two years, Afrinvest (West Africa) Ltd. said.
Nigeria’s stock exchange approved a 22.09 trillion-naira ($14 billion) listing of Dangote Cement, the nation’s biggest producer of the building material, which will increase the bourse’s market capitalization by 37 percent.
Dangote Cement Plc, Nigeria’s largest company and Africa’s biggest producer of the building material, said second-quarter revenue will total 98.5 billion naira ($623.3 million) as demand was “strong” this month.