Dangote Group has signed agreement with Togolese government to make phosphate into fertilizer and build a cement factory in that tiny West African country.
Togo’s huge phosphate resources are mostly exported in their raw form, and the deal with Dangote, Africa’s biggest cement maker, would process some of that phosphate to make fertilizer in Togo with the aim of exporting it to the West African region.
The total cost of the project is about $2 billion, according to a statement from Togo’s government. It is not clear how much Dangote is investing in the project.
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Dangote also signed a deal to build a cement factory at a cost of about $60 million. Construction of the factory is set to start in the first quarter of 2020 and it will begin producing by the end of next year, the statement said.
The cement would serve the Togolese market as well as export to neighbouring countries.
With Dangote’s foray into cement manufacturing in Togo, the company will have to compete with two others, Germany’s Heidelberg Cement, which operates three companies there, and Fortia Cement.
