By Modupe Gbadeyanka
The management of Dangote Cement has confirmed bidding to acquire the entire share capital of South African company, PPC Limited.
In a statement issued yesterday, the leading cement firm in Nigeria however said contrary to reports that the process was ongoing, it was only still “at the preliminary stage.”
Dangote Cement noted that at the moment, its board has “merely communicated its interest to the Board of Directors of PPC with respect to the acquisition of the entire share capital of PPC.”
However, it promised that, “Further details will be published subsequently, as appropriate.”
Dangote Cement Plc is Africa’s leading cement producer with nearly 46 million tonnes per annum (Mta) capacity across Africa.
The firm has a production capacity of 29.25Mta in with its Obajana Plant in Kogi State the largest in Africa with 13.25Mta capacity across four lines; its lbese Plant in Ogun State has four cement lines with a combined installed capacity of 12Mta; and the Gboko Plant in Benue State has 4Mta.
Through its recent investments, Dangote Cement has eliminated Nigeria’s independence on imported cement and has transformed the nation into a net exporter of cement, serving neighbouring countries.
In addition, the firm has invested almost $3 billion to build manufacturing plants and import/grinding terminals across Africa.
Its operations are in Cameroon (1.5Mta clinker grinding), Congo (1.5Mta), Ghana (1.5Mta import), Ethiopia (2.5Mta), Senegal (1.5Mta) Sierra Leone (0.7Mta import) South Africa (2.7Mta), Tanzania (3.0Mta), and Zambia (1.5Mta).
