LAGOS (Reuters) - Nigeria's biggest listed company, Dangote Cement, opened a $1 billion cement plant on Thursday, raising its production capacity in Africa's most populous nation by more than 40 percent.
The new plant is situated in Ibese, Ogun State in southeast Nigeria, just outside the commercial hub Lagos. It will produce 6 million metric tonnes of cement per annum (mtpa), which along with Dangote Cement's two other plants will take total production to 20.25 mtpa.
"We are working towards making the company one of the eight biggest producers of cement in the world," Dangote's billionaire owner Aliko Dangote said at the plant opening.
"With the commissioning of the Ibese plant, Nigeria has been transformed from major importer of cement to self sufficient in production and export."
Dangote said in the next two years the company's Obajana plant, in Kogi state, would have its capacity upgraded to 15 mtpa from 10.25 mtpa currently, which would make it the world's biggest cement plant.