Aliko Dangote, Africa’s richest man and a leading industrialist, is preparing to embark on his next ambitious venture: a steel production company.
Dangote disclosed his new ambition while speaking at the Afreximbank Annual Meetings (AAN) and AfriCaribbean Trade & Investment Forum in Nassau, The Bahamas, on Wednesday, June 12.
Dangote said:
According to ThisDay, Dangote’s new steel company is expected to boost Nigeria’s steel production capacity significantly, reducing the country’s reliance on imports.
Dangote’s recent discussions on a new project exemplify his self-driven nature and determination to achieve what many can only imagine.
A few days ago, his company, Dangote Sinotruk West Africa, inaugurated a completely knocked down (CKD) truck assembly plant in Lekki, Lagos state.
TimesNow.com.ng reports that the truck plant can produce 10,000 trucks annually and create about 3,000 jobs across Nigeria.
Additionally, there is a Dangote Oil Refinery, a 650,000 barrels per day (BPD) integrated refinery in the Lekki Free Zone.
TimesNow.com.ng previously reported that Dangote revealed his expectation that the total revenue from his businesses would surpass $30 billion by the close of 2024.
The Nigerian billionaire and founder of the Dangote Group is renowned for his extensive business empire, which includes subsidiaries specialising in a wide range of goods and services across various sectors of Nigeria’s economy.
In a CNN interview, Dangote expressed that this significant growth would position the Dangote Group among the top 120 largest companies globally.
Proofreading by James Ojo Adakole, journalist and copy editor at TimesNow.com.ng.
Source: TimesNow.com.ng
