President Biya Commends Dangote on Investing in Cameroon
Cameroonian President, His Excellency Paul Biya has commended Aliko Dangote for his massive investments in cement plants across Africa. Biya gave the commendation yesterday while commissioning the 1.5 million metric tonnes per annum Dangote Cement Grinding Plant in Douala Cameroon.
The President represented at the commissioning ceremony by the Prime Minister Philemon Yang also laid the foundation stone for 200m jetty in Base Elf area, Port Autonome De Douala.
Speaking at the ceremony, he lauded the President/CE of Dangote Industries Ltd for investing in Cameroon which he said is consistent with his Government’s policy of inviting industries to contribute to the growth of the Cameroonian gross domestic product. He added that Dangote has shown willingness to play a significant role in the industrialization of the Cameroonian economy. He stated that the new cement grinding plant and jetty are clear indications that Cameroon is open and welcome to investments from Nigeria and Africa adding that as a liberal economy, the country supports investment from the private sector.
The President/CE of Dangote Industries Ltd. – Alh. Aliko Dangote – in his speech described the plant as “our largest Greenfield project in a neighboring country with which we not only share a boundary but also a long history of brotherly relationship dating from our colonial days. Owing to the rich culture and history that we share, we have a better understanding of Cameroon.”
He disclosed that due to the warm welcome given to Dangote Cement, the company has decided to begin work on the second phase of the plant, which will see the doubling of its capacity from the current 1.5mmtpa to 3.0mmtpa. He said, “Our desire to increase our investment with the Phase 2 project is based on not only the fast growth rate of the Cameroonian economy but also due to the warm welcome extended to us and the enabling environment created by the government of Cameroon.
Our choice of Cameroon for this multi-million dollar investment is quite strategic. Cameroon is the largest economy in Central Africa and is well endowed with abundant natural resources. The country also enjoys political stability, adequate security and growing infrastructural development. In addition, President Biya has created an enabling environment that has continued to attract investors both from within and outside the African continent.”
He said that the desire to ensure that Africa becomes self-sufficient in cement production informed yesterday’s signing of a $4.34 billion contract with Sinoma International Engineering Company Limited, a Chinese construction giant, for the construction of 11 new cement plants in 10 African countries, and Nepal in Asia.