Dangote Sugar Refinery To Gulp N106 bn Investments To Improve Profitability

Alhaji Aliko Dangote, Chairman, Dangote Sugar Refinery (DSR) on Thursday said that N106 billion would be invested in the company to boost profitability and enhance dividend payment.
Dangote told shareholders at the company’s 11th Annual General Meeting (AGM) for 2016 financial year in Lagos that the money would be invested in the next four to six years.
He said the investments, when concluded, would boost the company’s market share as well as the dividend payable to the shareholders.
 The chairman added that about N101 billion had been committed toward actualization of the company’s Backward Integration Project (BIP).
“To date, about N101 billion has been committed toward the actualization of these projects on equipment purchase, land studies and survey,  and sensitisation campaign for the local communities,” Dangote said.

He stated that part of the funds was committed to the rehabilitation and expansion of Savannah Sugar Company.

POSTED BY:OPUOMONI PRIYE
DATE:04/28/2017