Dangote, Blackstone To Invest N825 Billion In Power

Dangote Industries and Blackstone
yesterday announced a commitment
to jointly invest up to N825billion
($5billion) over the next five years in
energy infrastructure projects across
sub-Saharan Africa with a particular
emphasis on power, transmission and
pipeline projects.


The investment is facilitated by Black
Rhino, a portfolio company of
Blackstone Energy Partners and
affiliated funds managed by Blackstone, and Dangote Industries.
While Dangote Industries is the
largest industrial conglomerate in
West Africa, and one of the largest in
Africa, Blackstone Energy Partners is
Blackstone’s energy-focused private
equity business with a successful
record built on Blackstone’s industry
expertise and partnerships with
exceptional management teams, based in the United States of
America.

Blackstone has invested
approximately $7 billion of equity
globally across a broad range of
sectors within the energy industry.

Dangote Industries’ commitment to
investments in Nigeria and across the
African continent has played a
significant role in Africa’s recent
economic success. Led by its founder,
president and chief executive officer,
Aliko Dangote, Dangote Industries’
businesses span manufacturing,
logistics, commodities trading and
real estate across 14 African
countries.

The two internationally acclaimed
companies have agreed to jointly
incorporate, own and operate a
management company that would be
responsible for the development and
management of projects identified
and agreed upon across the sub-
Saharan African.