Cameroon currently produces 1.6 million tonnes of cement but this has, despite imports, fallen short of the national demand of 2.5 million tonnes.
The Dangote Group cement factory, in addition to producing an extra one million tonnes, would also generate 200 permanent jobs as well as 1,300 supporting jobs.
To be located in Douala, the plant is expected to be complete in 18 months.
Speaking at the signing, Mr Dangote expressed joy that “the negotiations that began in 2008 had finally ended in success.”
“Cameroon is the Central African powerhouse as it is stable and developing, which offers sure economic opportunities. These are the elements which have informed our decision to locate our factory in Cameroon,” he said.
Increased consumption
Three government ministers were at the signing ceremony. Industries minister Badel Ndanga Ndinga who signed on behalf of the prime minister said a number of big infrastructure projects such as the Kribi gas and deep seaport, the Lom Pangar hydro-electric dam and a second bridge over the Wouri river among others would increase cement consumption in the country.
“It would be necessary to produce at least five million tonnes of cement a year to meet these new demands,” he said.