Dangote Industries and Blackstone have announced a commitment to jointly invest up to $5 billion (N825 billion) 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 will be responsible for the development and management of projects identified and agreed upon, across the sub-Saharan Africa. [myad]