- A new cement factory to compete with Dangote Cement and others is scheduled to start operations in Ethiopia
- The factory is said to be the largest of its kind and is scheduled to officially open in March 2024.
- The new giant cement factory is also expected to create around 20,000 jobs for Ethiopians.
Legit.ng journalist Zainab Iwayemi has over three years of experience covering economics, technology and capital markets.
Ethiopia's Remi National Cement Company has announced that production will soon begin at the country's largest factory.
Source:UGC
Construction company Shinoma International Engineering Company said the factory should be completed by March.
Once fully operational, the plant will increase the East African country's cement production capacity by 8 million tonnes a year, the company said.
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Once completed, the plant is expected to increase clinker production by 10,000 tonnes per day, or 4.5 million tonnes of cement (PPC), thereby constraining supply and demand for cement.
The new company will compete with Dangote Cement, which operates in the East African country and can produce high quality 32.5 and 42.5 grade cement that meets market needs at competitive costs.
Notably, the 2.5Mta Dangote cement plant, located less than 90km from Addis Ababa, began operations in May 2015.
construction industry benefits
Remi Cement deputy manager Abebou Bekele said in a Times report that Ethiopia's construction industry will benefit from the plant's ability to alleviate the country's chronic cement shortage.
About 20,000 Ethiopians are expected to find jobs at the giant cement production plant, officials said.
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Built at a cost of US$600 million, the Lemi National Cement Factory is owned by a joint venture between East Africa Holding Company and West International Holding, the West China Cement Africa arm.
The company is located in the Lemi Building Materials Industrial Park, 150 kilometers north of Addis Ababa.
The company recently announced the installation of a huge rotary kiln and preheater frame. These are structures used to make cement by breaking down large rocks at high temperatures.
Once completed, the project is expected to cover more than 50% of Ethiopia's current cement demand.
Nigerians lament as cement prices rise by 30% in 2024
Legit.ng reported that cement prices have soared to new highs in recent days amid Nigeria's harsh economic realities.
Investigations have revealed that cement brands were subject to price hikes of over N1,000 per bag from an affiliate of the Cement Manufacturers Association of Nigeria (CMAN).
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As a result, retail prices in Lagos and the South-West region increased from N5,000 to over N6,200. Also, prices in Abuja and the Southeast region have soared to more than 6,500 Naira.
Source: Legit.ng
