By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Dangote Cement Plc on Wednesday signed a $4.34 billion cement plant deal with Chinese construction firm Sinoma International Engineering Company Ltd for Constructions of Cement facilities in Nigeria and 10 other countries, according to a report from Proshare.

The 10 other countries the plants will be build  include Nepal, Ethiopia, Ghana, Cote D’ Ivoire, Mali, Cameroon, Niger, Senegal, Zambia and Kenya.

It’s expected that 25 million additional tones to the company’s existing capacity of around 45 million tones, Reuters quoted Aliko Dangote, Africa’s richest person and president of the Dangote Group.

“The projects are going to be delivered within the next 30 months and we expected production capacity to have reached 70 million tonnes within that timeframe,’ the report quoted Dangote as saying.

“We are not going to stop there. By 2020 we are targeting 100 million tonnes,” he said.

Shares of Dangote Cement at the close of today’s trading on the Nigerian bourse declined 2.31 percent to N165.15 from N169.05 traded the previous day; losing N3.90 per share.