Dangote Group to Invest US$20 billion in Petrochemical and Fertiliser Projects

By September 30, 2016 Investment News

A fresh investment worth $20 billion targeted at the downstream petrochemical and backward integration in agriculture is in the offing.Africa’s richest man, and President of Dangote Group, Aliko Dangote, who made the pledge, said his group is set to deploy funds in multi-faceted projects.The projects include fertiliser, gas pipeline, and backward integration in sugar and rice production.

These, he said, will create over 250,000 jobs and provide foreign exchange earnings and savings of $16 billion for the country and help diversify the economy. Besides, in recognition of his immense contribution to human capital development in Africa through the establishment of businesses across the African continent, a United States of America based Organization, Africa-America Institute (AAI), honoured Dangote with the “2016 African Business Leader Award.”

The business mogul was named and presented the award at a ceremony held on the side-line of the United Nations Congress in New York city, United States.
Other prominent Africans like Stephen Hayes, President and Chief Executive Officer of the Corporate Council on Africa (CCA), who won the AAI ‘2016 U.S. Business Leader Award’; and Sunil Benimadhu, Executive Director of the Stock Exchange of Mauritius (SEM), who won the AAI ‘2016 Distinguished Alumnus Award.’

Source: http://guardian.ng/business-services/dangote-group-to-invest-20b-in-petrochemical-fertiliser-projects/