Africa’s richest man, Aliko Dangote has announced plan to build a cement factory in Yamba, southern Congo, valued at $292.9 million. 

Following a meeting with the Congo’s President, Denis Sassou Nguesso, Dangote stated that the factory is expected  to add over 1.5 million tonnes of cement annually to the company’s current output of 20 million tonnes and create over 650 jobs.

It will also reduce the country’s importation of cement and position it as a major exporter, increasing its foreign earnings.

“The project will help the country significantly reduce the imports of cement and even enable us become a net exporter of cement while boosting economic growth, development, job creation and income generation,” Rodolphe Adada, Minister of Industrial Development and Private Sector Promotion stated.

The construction of the plant will last for two and half years and will contribute to Dangote’s target of 50 million tonnes of annual output by 2016.