Dangote To Invest $20bn In Pipeline Infrastructure, Fertiliser, Petrochemicals
Dangote Group is investing about $20 billion into gas pipeline infrastructure, power generation, petrochemical, fertiliser, sugar refinery and petroleum refinery in the country.
The executive director, Dangote Group, Devakumar Edwin, in a chat with the media, disclosed that the Dangote fertiliser plant, which will be operational next year, and the petrochemical plant and refinery, is expected to meet local consumption of petroleum and chemical products in the country.
He noted that the gas pipeline is capable of handling two to three billion standard cubic feet of gas per day.
Edwin disclosed that the company is also making huge investments in fertiliser production, describing the plant as one of the largest in the world.
“With the huge gas we are bringing to the shore, we will improve power generation. When we start manufacturing most of these things locally, the problem of unemployment will be solved. This will also curb the social problem and crimes. We are also going through a lot of pains. But we don’t want to look at the negative side, but the positive,” he said.
He said that the current declining crude oil prices call for the country to diversify into manufacturing and become self-sufficient in consumable goods, saying that Dangote is investing more on agriculture due to its desire to make the country self-sufficient in food production.
Meanwhile, to further enhance its local capacity in the country, Dangote Cement Plc has commenced the construction of a $1billion cement plant in Okpella, Edo State. Indeed, the new cement plant with potential capacity for expansion is expected to further aid the country’s import substitution agenda while generating at least 6,000 jobs in the cement industry.