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

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.

SOURCE: REUTERS