Dangote Cement to Spend $1 Billion to Boost Capacity by 2030

Dangote Cement Plc, Africa’s biggest producer of the building material, will spend $1 billion to boost capacity over the next four years as infrastructure construction spurs demand.

The company, controlled by billionaire Aliko Dangote, plans to raise capacity by 45% to 80 million tons, according to Chief Financial Officer Gbenga Fapohunda. The money will be invested in “Nigeria, Ethiopia and some other countries,” Fapohunda said during an investor conference call in Lagos on Wednesday.