Dangote Industries is seeking to invest $2 billion in a phosphate project located in Togo. If the project succeeds, Togo will become the main supplier of the phosphate fertiliser in West Africa.
The new project is set to begin by the end of 2020.
Currently, Dangote Industries has been importing phosphate from Togo to make fertiliser in Nigeria.
Additionally, Dangote is also planning to build a cement factory in Lome, Togo’s capital. The cement factory deal will cost about $60 million. Its construction will begin in the first quarter of 2020.
The Cement factory project will be expected to have an annual production of 1.5 million tonnes. Dangote industries will use clinker from Togo and Nigeria. It will serve both domestic and foreign demand from neighbouring countries.
Togo has more than 2 billion tonnes of phosphates reserves. This makes it one of the leading phosphate producers in Africa. Togo mainly exports phosphate resources in raw form.
The Dangote Group is a Nigerian multinational industrial conglomerate, founded by Aliko Dangote. It is the largest conglomerate in West Africa and one of the largest on the African continent.
The group also owns and operates over 18 subsidiaries, operating in ten African countries. Its headquarters are in Lagos, Nigeria.
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