August 23, 2017 / 11:18 PM / a year ago

Nigeria's Dangote Group plans $450 million sugar cane project

LAGOS (Reuters) - Dangote Group, controlled by Africa’s richest man, Aliko Dangote, plans to invest $450 million in a sugar cane project in its home country Nigeria, the company said on Wednesday.

It signed a memorandum of understanding with the Niger state government to produce raw sugar cane on 16,000 hectares of land, the group said in a statement.

Dangote already operates a sugar refinery and a sugar cane plantation in Adamawa state.

Reporting by Ulf Laessing and Emma Farge

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