Lafarge SA, the French cement maker that plans to merge with Holcim Ltd. of Switzerland to become the world’s biggest producer of the building material, will combine Nigerian and South African assets to form a new company to compete with Africa market leader Dangote Cement Plc.
Dangote Cement Plc, Nigeria’s largest company and Africa’s biggest producer of the building material, said it plans to begin operations in three countries this year as part of a longer-term expansion across the continent.
Dangote Group, the Nigerian company controlled by Africa’s richest man Aliko Dangote, plans to invest about $16 billion in cement, petrochemicals and agriculture over the next four years to boost expansion.
Dangote Group, controlled by Africa’s richest man Aliko Dangote, is considering the purchase of Nigerian oil fields as international companies plan to sell onshore assets in the continent’s top crude producer.
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 , 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.