Aliko Dangote In $2bn Loan Deal With Chinese To Build Cement Plants in Nigeria

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Aliko Dangote In $2bn Loan Deal With Chinese To Build Cement Plants in Nigeria

Africa’s richest man Aliko Dangote has signed a $2 billion loan from the Industrial Commercial Bank of China Ltd for two cement plants, Reuters reports.

“The interest rate is okay, quite favorable with me,” Dangote said, without elaborating. “It’s for my two cement companies that we are establishing in Nigeria.”


The deal included China Export & Credit Insurance Corporation.


Dangote has a cement empire in Nigeria and recently launched construction of a new cement factory in Edo state.