24th April 2007, 11:45 PM
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Why Cement Is Costly - Dangote
Dangote in the limelight once again!
Quote:
BusinessDay
April 23rd, 2007
Why cement is costly - Dangote
Increased in demand of cement in Nigeria and ever increasing operational costs are the reasons for the recent high price of cement in Nigeria, Knut Umvoen Group Managing Director (cement) said at a press interactive session in Lagos yesterday.
Cement price per bag went up recently to between N1700 to N1800 from its former level of N1350.
"Dangote’s ex-factor prices are N1130 and N1150 in Lagos and Port Harcourt respectively," Umvoen said.
Total demand for cement in Nigeria is 10 million metric tonnes per annum whereas current supply by existing plants excluding Dangote’s Obajana Cement plant is 7 million metric tonnes per annum, Umvoen said. Dangote Group accounts for 5 million metric tonnes.
Obajana, according to him, which currently produces 5000 metric tonnes per day on one line, will add 5 million metric tonnes to Nigeria’s total cement production when in full production soon.
http://www.businessdayonline.com/?c=132&a=12867
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