Tag Archives: Aliko Dangote

Dangote to invest $3.9 bln on cement plants in Africa

On April 12, 2011  In  Vanguard Headlines

Lagos –  The Dangote Group says it will invest 3.9 billion dollars (N585 billion) in the expansion of its cement plants in some Africa countries.

Alhaji Aliko Dangote, Chairman of the company, disclosed this on Tuesday in Lagos while signing an agreement between his company and a Chinese firm, Sinoma International Engineering Co. Ltd.

He said that the expansion project, expected to be completed in 2013, would produce additional 16.5 million tonnes of cement to achieve a target of 50 million tonnes in the next two years.

Dangote, represented by Mr Devakumar Edwin, the company’s Group Executive Director ( Business Development), said that the projects included installation of equipment, mining, quarry and power facilities, among others.

Cement plants with installed capacity of 1.5 million tonnes each per year will be constructed in countries like Tanzania, Gabon and Republic of Congo.

“South Africa, Ibese and Obajana cement plants will each produce additional new lines of three million tonnes while the grinding plant in Cameroon is targeted at producing 1.5 million tonnes annually.

“The agreement signed today is for production of additional three million tonnes each from the existing plants in Obajana, Ibese and other plants,” he said.

Dangote said that the group was targeting the production of 20 million tonnes of cement before the end of 2011 from the plants.

He said that the new projects would provide over 40,000 additional jobs to truck drivers that would have multiplier effects on the nation’s economy and wealth creation.

Dangote said that the group was exploring many other power sources to save cost.

“In Senegal, we use coal to power the plant and we import the coal from South Africa. We use gas and hydro-power plant where they are available,” he said..

Mr Wu Shoufu, President of the Chinese firm, said that the agreement would strengthen business growth in the two countries.

Shoufu said that the expansion of cement plants in Africa by Dangote Group would make the region to achieve self sufficiency in cement production soon. (NAN)

Nigerian Emerges as Forbes Africa’s Richest Man 2011

Net Worth Calculated March 2011

Alhaji Aliko Dangote (born April 10, 1957) is a businessman based in Nigeria. He is the owner of the Dangote Group, which has operations in Nigeria and several other countries in Africa, including Benin, Cameroon, Ghana, South Africa and Zambia.[3] A wealthy supporter of erstwhile President Olusegun Obasanjo and the ruling People’s Democratic Party (PDP), Dangote controls much of Nigeria’s commodities trade through his corporate and political connections. With an estimated current net worth of around US$ 13.8 billion, he was ranked by Forbes as one of the richest African citizens[4] and richest person of African descent in the world toppling Mohammed Al Amoudi ($12.3 billion) and Oprah Winfrey ($2.7 billion.)[5]

Aliko Dangote emerges the Richest man. The 53 years old is number 51 on the World’s Richest list. The Nigerian businessman’s fortune surged 557% in the past year, making him the world’s biggest gainer in percentage terms and Africa’s richest individual for the first time. The catalyst was listing Dangote Cement, which integrated his investments across Africa with his previously public Benue Cement; it now accounts for a quarter of the Nigeria Stock Exchange‘s total market cap. Already the continent’s biggest cement maker, he has plants under construction in Zambia, Tanzania, Congo and Ethiopa and is building cement terminals in Sierra Leone, Ivory Coast and Liberia, among other places. Dangote, who recently bought himself a $45 million Bombardier aircraft for his birthday, has been shuttling back and forth to London for months, in anticipation of a public offering there later this year.

Rank Name Net Worth Age Source Country of Citizenship
1 Carlos Slim Helu 

Carlos Slim Helu & family

$74 B 71 telecom Mexico
2 Bill Gates 

Bill Gates

$56 B 55 Microsoft United States
3 Warren Buffett 

Warren Buffett

$50 B 80 Berkshire Hathaway United States
4 Bernard Arnault 

Bernard Arnault

$41 B 62 LVMH France
5 Larry Ellison 

Larry Ellison

$39.5 B 66 Oracle United States
6 Lakshmi Mittal 

Lakshmi Mittal

$31.1 B 60 Steel India
7 Amancio Ortega 

Amancio Ortega

$31 B 75 Zara Spain
8 Eike Batista 

Eike Batista

$30 B 54 mining, oil Brazil
9 Mukesh Ambani 

Mukesh Ambani

$27 B 53 petrochemicals, oil & gas India
10 Christy Walton 

Christy Walton & family

$26.5 B 56 Walmart United States
11 Li Ka-shing 

Li Ka-shing

$26 B 82 Diversified Hong Kong
12 Karl Albrecht 

Karl Albrecht

$25.5 B 91 Aldi Germany
13 Stefan Persson 

Stefan Persson

$24.5 B 63 H&M Sweden
14 Vladimir Lisin 

Vladimir Lisin

$24 B 54 Steel Russia
15 Liliane Bettencourt 

Liliane Bettencourt

$23.5 B 88 L’Oreal France
16 Sheldon Adelson 

Sheldon Adelson

$23.3 B 77 casinos United States
17 David Thomson 

David Thomson & family

$23 B 53 media Canada
18 Charles Koch 

Charles Koch

$22 B 75 Diversified United States
18 David Koch 

David Koch

$22 B 70 Diversified United States
20 Jim Walton 

Jim Walton

$21.3 B 63 Walmart United States
21 Alice Walton 

Alice Walton

$21.2 B 61 Walmart United States
22 S. Robson Walton 

S. Robson Walton

$21 B 67 Walmart United States
23 Thomas & Raymond Kwok 

Thomas & Raymond Kwok & family

$20 B N/A real estate Hong Kong
24 Larry Page 

Larry Page

$19.8 B 38 Google United States
24 Sergey Brin 

Sergey Brin

$19.8 B 37 Google United States
26 Prince Alwaleed Bin Talal Alsaud 

Prince Alwaleed Bin Talal Alsaud

$19.6 B 56 Investments Saudi Arabia
27 Iris Fontbona 

Iris Fontbona & family

$19.2 B N/A Mining Chile
28 Lee Shau Kee 

Lee Shau Kee

$19 B 83 real estate Hong Kong
29 Alexei Mordashov 

Alexei Mordashov

$18.5 B 45 Steel Russia
30 Michael Bloomberg 

Michael Bloomberg

$18.1 B 69 Bloomberg United States
30 Jeff Bezos 

Jeff Bezos

$18.1 B 47 Amazon United States
32 Michele Ferrero 

Michele Ferrero & family

$18 B 84 chocolates Italy
32 Mikhail Prokhorov 

Mikhail Prokhorov

$18 B 45 Investments Russia
34 Vladimir Potanin 

Vladimir Potanin

$17.8 B 50 nonferrous metals Russia
35 Alisher Usmanov 

Alisher Usmanov

$17.7 B 57 steel, telecom, stocks Russia
36 Azim Premji 

Azim Premji

$16.8 B 65 Software India
36 Oleg Deripaska 

Oleg Deripaska

$16.8 B 43 aluminum Russia
38 Michael Otto 

Michael Otto & family

$16.6 B 67 Retail Germany
39 German Larrea Mota Velasco 

German Larrea Mota Velasco & family

$16 B 57 Mining Mexico
39 Rinat Akhmetov 

Rinat Akhmetov

$16 B 44 steel, coal mines Ukraine
39 John Paulson 

John Paulson

$16 B 55 hedge funds United States
42 Shashi & Ravi Ruia 

Shashi & Ravi Ruia

$15.8 B 67 Diversified India
43 Mikhail Fridman 

Mikhail Fridman

$15.1 B 46 oil, banking, telecom Russia
44 Michael Dell 

Michael Dell

$14.6 B 46 Dell United States
44 Susanne Klatten 

Susanne Klatten

$14.6 B 48 BMW, pharmaceuticals Germany
46 Steve Ballmer 

Steve Ballmer

$14.5 B 55 Microsoft United States
46 George Soros 

George Soros

$14.5 B 80 hedge funds United States
48 Berthold & Theo Jr. Albrecht 

Berthold & Theo Jr. Albrecht & family

$14.4 B N/A Aldi, Trader Joes Germany
49 Birgit Rausing 

Birgit Rausing & family

$14 B 87 packaging Sweden
50 Vagit Alekperov 

Vagit Alekperov

$13.9 B 60 Lukoil Russia
51 Aliko Dangote 

Aliko Dangote

$13.8 B 53 sugar, flour, cement Nigeria
52 Mark Zuckerberg 

Mark Zuckerberg

$13.5 B 26 Facebook United States
53 Anne Cox Chambers 

Anne Cox Chambers

$13.4 B 91 Cox Enterprises United States
53 Roman Abramovich 

Roman Abramovich

$13.4 B 44 steel, investments Russia
55 Jorge Paulo Lemann 

Jorge Paulo Lemann

$13.3 B 71 beer Brazil
56 Savitri Jindal 

Savitri Jindal & family

$13.2 B 61 Steel India
57 Gerald Cavendish Grosvenor 

Gerald Cavendish Grosvenor & family

$13 B 59 real estate United Kingdom
57 Paul Allen 

Paul Allen

$13 B 58 Microsoft, investments United States
57 Viktor Vekselberg 

Viktor Vekselberg

$13 B 53 oil, metals Russia
60 Phil Knight 

Phil Knight

$12.7 B 73 Nike United States
61 Robert Kuok 

Robert Kuok

$12.5 B 87 Diversified Malaysia
61 Carl Icahn 

Carl Icahn

$12.5 B 75 leveraged buyouts United States
63 Mohammed Al Amoudi 

Mohammed Al Amoudi

$12.3 B 66 oil Saudi Arabia
64 Donald Bren 

Donald Bren

$12 B 78 real estate United States
64 Ronald Perelman 

Ronald Perelman

$12 B 68 leveraged buyouts United States
66 Alberto Bailleres Gonzalez 

Alberto Bailleres Gonzalez & family

$11.9 B 79 Mining Mexico
67 Francois Pinault 

Francois Pinault & family

$11.5 B 74 Retail France
68 Joseph Safra 

Joseph Safra

$11.4 B 72 banking Brazil
69 Abigail Johnson 

Abigail Johnson

$11.3 B 49 Fidelity United States
70 Viktor Rashnikov 

Viktor Rashnikov

$11.2 B 62 Steel Russia
71 Leonardo Del Vecchio 

Leonardo Del Vecchio

$11 B 75 eyewear Italy
72 John Fredriksen 

John Fredriksen

$10.7 B 66 shipping Cyprus
72 Stefan Quandt 

Stefan Quandt

$10.7 B 44 BMW Germany
74 James Simons 

James Simons

$10.6 B 72 hedge funds United States
75 Luis Carlos Sarmiento 

Luis Carlos Sarmiento

$10.5 B 78 banking Colombia
75 Horst Paulmann 

Horst Paulmann & family

$10.5 B 76 Retail Chile
77 Eliodoro, Bernardo & Patricia Matte 

Eliodoro, Bernardo & Patricia Matte

$10.4 B N/A paper Chile
77 Nasser Al-Kharafi 

Nasser Al-Kharafi & family

$10.4 B 67 construction Kuwait
79 Sammy Ofer 

Sammy Ofer & family

$10.3 B 89 shipping Israel
80 Len Blavatnik 

Len Blavatnik

$10.1 B 53 Access Industries United States
81 Hans Rausing 

Hans Rausing

$10 B 85 packaging Sweden
81 Ernesto Bertarelli 

Ernesto Bertarelli & family

$10 B 45 biotech Switzerland
81 John Mars 

John Mars

$10 B 74 candy, pet food United States
81 Jacqueline Mars 

Jacqueline Mars

$10 B 71 candy, pet food United States
81 Forrest Mars 

Forrest Mars

$10 B 79 candy, pet food United States
81 Klaus-Michael Kuhne 

Klaus-Michael Kuhne

$10 B 73 shipping Germany
81 Gautam Adani 

Gautam Adani

$10 B 48 commodities, infrastructure India
88 Iskander Makhmudov 

Iskander Makhmudov

$9.9 B 47 mining, metals, machinery Russia
89 Johanna Quandt 

Johanna Quandt

$9.8 B 84 BMW Germany
89 George Kaiser 

George Kaiser

$9.8 B 68 oil & gas, banking United States
89 Maria-Elisabeth & Georg Schaeffler 

Maria-Elisabeth & Georg Schaeffler

$9.8 B N/A ball bearings Germany
92 German Khan 

German Khan

$9.6 B 49 oil, banking, telecom Russia
93 Ananda Krishnan 

Ananda Krishnan

$9.5 B 73 telecom Malaysia
93 Dmitry Rybolovlev 

Dmitry Rybolovlev

$9.5 B 44 fertilizer Russia
95 Robin Li 

Robin Li

$9.4 B 42 Internet China
96 Serge Dassault 

Serge Dassault & family

$9.3 B 86 aviation France
97 Kumar Birla 

Kumar Birla

$9.2 B 43 commodities India
97 Petr Kellner 

Petr Kellner

$9.2 B 46 insurance Czech Republic
99 Leonid Mikhelson 

Leonid Mikhelson

$9.1 B 55 Natural gas Russia
100 Cheng Yu-tung 

Cheng Yu-tung

$9 B 85 real estate Hong Kong