Posted By: Afolabi Gambari WITH AGENCY REPORT
Dangote met with President Robert Mugabe in Harare on Monday in a rare sign of possible foreign investment for Zimbabwe, which has been in economic decline for more than a decade.
“We had a very, very good meeting with the president and I told him that we have already decided to invest in power, cement and coal,” Dangote told a mixture of local and foreign journalists shortly after the meeting.
The Nigerian billionaire also held a series of meetings with high-ranking government officials that include Vice President Emmerson Mnangagwa, Mines Minister Walter Chidhakwa and Tourism Minister Walter Mzembi.
The Nigerian billionaire said he would spend close to $400m on the cement plant, which will produce a million and half tonnes of cement a year, making it the biggest in country.
“We are sending our team next week and hopefully if things go well, we would be ready to put the biggest cement plant which is a million and half tones, so we will look into this,” he said.
“We have already decided to invest into Zimbabwe. That is why we are here. Any country where you see us visiting it means we have decided to invest there,” he added.
Dangote said construction of the cement plant could start in the first quarter of 2016, subject to licencing procedures.
“Depending on getting all the documentation, if we get all this, we will start construction by first quarter, we will move very fast, but it all depends on the government,” her further stated.
“The investment package will create jobs and help Zimbabwe to develop its own economy.
“We would also explore the power sector, seeing that the country currently generates about 1, 300MW from its ageing plants, against demand which peaks at 2, 200MW in winter.
“We have this fund, which is a joint venture between Dangote and Blackstone Ltd. We have $5billion with them and it is one of the vehicles we want to bring to do the power generation.”
Dangote is the head and founder of multi-billion dollar Dangote Group which has interests including cement production in several African countries.
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