Fidelity bank banner Camano banner
Dangote turns to coal as gas shortages threaten cement plants

By News Express on 29/09/2016

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 1,231


Dangote Cement has turned to locally-mined coal to power its plants in a bid to end disruptions caused by gas shortages and lower its production costs.

“All our cement plants have been converted to coal,” Aliko Dangote, the company’s billionaire majority owner and chairman, told a business conference on Thursday, adding they would use 12,000 metric tonnes of coal each day.
Dangote’s move is unusual in an era when power generation is shifting away from coal. Coal used to generate U.S. power fell in April to its lowest monthly level since 1978, the U.S. Energy Information Administration said in a June report.
Natural gas, meanwhile, surpassed coal as the United States’ top fuel source for the third straight month, the EIA said.
However, gas shortages have plagued the West African nation, with militants in the oil heartland of the Niger Delta regularly disrupting Nigeria’s oil and gas production.
Dangote, Africa’s biggest cement producer, has an annual production capacity of 43.6 million tonnes and targets output of between 74 million and 77 million tonnes by the end of 2019 and 100 million tonnes of capacity by 2020.
The company has invested more than $5 billion to expand outside its home market in the past few years.
Dangote said Nigeria has become a cement exporter generating $1.25 billion of sales as against annual imports of $2.5 billion which the country would have spent before the sector was liberalised in 2002.
•Text courtesy of Reuters. Photo shows Aliko Dangote.

Source News Express

Posted 29/09/2016 9:42:30 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Owerri Zone monarchs pass vote of confidence on...

Ohanaeze, Arewa youths meet over Igbo Quit Notice...

Shake-up hits SEC after Ote's exit

Breaking: Chelsea, PSG to clash in Champions League...

Macron, Cameroon and The Shrine

Economists’ obsessed with job creation, but how about...

FG spends N200bn on road development

Training, re-training very essential for effective service delivery...

GTBank partners Lagos FA to train 300 football...

Buhari, Governors meet in Aso Rock •To discuss...

Military spits fire, vows ‘to deal decisively’ with...

Suspected herdsmen set Falae’s farm ablaze

 

Latest News Buhari no longer in charge — Secondus •Declares 2019 year of liberation for Nigeria 9 soldiers face court martial over indiscipline Travel ban: FG submits names of 39 alleged treasury looters to Immigration Pandemonium in Ekiti as lunatic chases teachers, pupils with stones 2019: Tinubu eyes 3m votes for Buhari in Lagos Police ban pasting of campaign posters at night EFCC arraigns fake prophet, doctor for alleged N2.4m fraud How oil companies evade taxes, royalties in Nigeria Kaduna attack: Troops take over Jema’a LGA Ayade grants amnesty to dreaded Bakassi militants Dangote staff plead guilty of N15m fraud, seek plea bargain Apapa Gridlock: Residents vow to shut down business activities if no solution after 21-day ultimatum

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (431,173 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (395,588 views) Shameless Genevieve Nnaji exposes breasts in public (328,441 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (282,732 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (248,467 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (229,555 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (212,558 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (193,771 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (180,271 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (170,818 views) Lagos plane crash: Journalist releases victims’ names (167,615 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (154,046 views)

 

CBN banner Zenith Zero Balance First Bank chat banking

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (76) Business & Economy (3,889) Business Verdict (54) Columnists (974) Complaints & Requests (95) Enterprise & Opportunities (208) Entertainment (575) Features (681) Global Business Monitor (313) International (2,842) Interview (167) Live Commentary (28) Love Matters (147) Maggie's Blog (74) News (41,545) Opinion (1,154) Pidgin (13) Politics (8,225) Religion (920) Sports (1,827) Stock Watch (35) AMA & Al Jazeera Global Update

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera