Connect with us
Gage

Business News

Dangote Cement signs pact with GE to digitise plants

Dangote Cement Plc has signed an agreement with General Electric to install Asset Performance Management (APM) solution at its plants in Obajana, Ibese, to Improve power supply efficiency and help extend the life span of the plants. 

Published

on

Aliko Dangote, Milk importation, CBN, You probably wouldn't know Dangote dances until you watch this video  

Dangote Cement Plc has signed an agreement with General Electric to install Asset Performance Management (APM) solution at its plants in ObajanaIbese, to Improve power supply efficiency and help extend the life span of the plants. 

Details of pact: It includes extending the current service agreement for an additional 50,000 operating hours for the seven GE LM6000PC aero-derivative gas turbines installed at the sites. GE’s total plant solutions will improve efficiency, reliability essential to continuous operations and the plants’ business strategy. 

Director, Operations, Dangote Cement, Ravi Sood, explained that power supply is both a key input and a major cost in the company’s manufacturing process. 

READ MORE: Dangote Cement Plc’s N50 billion Commercial Paper closes today

He said, “Operational performance is crucial to our cement plant’s overall productivity, directly affecting end products. Being at the front of cement production in Africa, we believe extending our services agreement with GE and the introduction of digital solutions will allow us to improve efficiencies, anticipate further reductions in unplanned downtime and become more self-sufficient in power production in a country.”  

Specta

Details of solution: APM leverages cutting-edge technology to monitor the performance of power generation assets to reduce downtime, avoid turbines damage and remotely predict and resolve issues. APM sensors will be installed not only on the seven aero-derivative turbines but also on their associated generators and gear boxes to predict and accurately diagnose issues with greater accuracy before they occur. 

Chief Executive Officer, Gas Power businesses in Sub-Saharan Africa, GE, Elisee Sezan, explained that the energy infrastructure is getting smarter, and digital solutions allow not only the shift from traditional calendar-based repairs to predictive maintenance but they also increase power asset availability and reliability. 

READ ALSO: Dangote Cement Plc releases Q1 2019 financial result

Deal book 300 x 250

She said, “We are proud to continue our 13-year collaboration with Dangote Cement to help them support Nigeria and other African countries towards achieving self-reliance and self-sufficiency in the world’s most basic commodities.” 

Coronation ads

The agreement underscores GE’s commitment to work collaboratively with its customers using the APM software to optimize their performance of assets, increase reliability and availability, minimize costs and reduce operational risks.  

About Dangote Cement Plc 

Dangote Cement is Africa’s leading cement producer with existing operations in 10 African countries. With a fully integrated quarry-to-customer producer with production capacity of up to 45.6 million tonnes per annum (Mta) across Africa at the end of 2017, it has operational facilities in Cameroon, Congo, Ethiopia, Ghana, Senegal, Sierra Leone, South Africa, Tanzania and Zambia.  

About GE 

Listed on the New York Stock Exchange, the global brand drives the world forward by tackling its biggest challenges. By combining world-class engineering with software and analytics, GE helps the world work more efficiently, reliably, and safely. For more than 125 years, GE has invented the future of industry, and today it leads new paradigms in additive manufacturing, materials science, and data analytics. GE people are global, diverse and dedicated, operating with the highest integrity and passion to fulfill GE’s mission and deliver for our customers. 

Coronation ads

Abiola has spent about 14 years in journalism. His career has covered some top local print media like TELL Magazine, Broad Street Journal, The Point Newspaper.The Bloomberg MEI alumni has interviewed some of the most influential figures of the IMF, G-20 Summit, Pre-G20 Central Bank Governors and Finance Ministers, Critical Communication World Conference.The multiple award winner is variously trained in business and markets journalism at Lagos Business School, and Pan-Atlantic University. You may contact him via email - [email protected]

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Companies

Neimeth Pharmaceuticals to raise N5 billion in additional equity

The Board of Neimeth is set to raise N5 billion additional equity upon the approval by shareholders of the company at the AGM.

Published

on

Neimeth Pharmaceuticals
The Board of Directors of Neimeth Pharmaceuticals has revealed plans to raise N5 billion in additional equity upon approval by shareholders of the company.
The information was contained in a press release published on the NSE and signed by the Company Secretary, Mrs. Florence Onhenekwe.

The disclosure is part of the resolutions reached at the Board of Directors meeting of 15th January 2021. At the end of the meeting, it was resolved that the company would raise additional equity to the tune of N5 billion.

In line with this development, a board resolution proposing to raise equity will be presented at the Annual General Meeting of the Company scheduled to hold on 9th March 2021.

What you should know

  • The Board of the Company is yet to disclose if the additional equity would be a rights issue or a private placement, as the details of the additional N5 billion equity set to be raised are yet to be finalized.
  • The fund will help the company’s management to execute key strategies that will reposition the company as a leader in the healthcare industry, with the hope to deliver better returns on investment to shareholders.
  • The additional equity financing will also increase Neimeth’s outstanding shares, which will dilute earnings and impact the Company’s stock value for existing shareholders.
  • The move has the potential to trigger a sell-off of the company shares on the Nigerian Stock Exchange.

Continue Reading

Appointments

Buhari appoints Abubakar Nuhu Fikpo as Acting DG of National Directorate of Employment

President Buhari has appointed Abubakar Nuhu Fikpo as the Acting DG of the National Directorate of Employment.

Published

on

Buhari sacks DG National Directorate of Employment, Nasiru Argungu

President Muhammadu Buhari has announced the appointment of Abubakar Nuhu Fikpo as the Acting Director-General of the National Directorate of Employment.

This was disclosed by media aide to the Presidency, Garba Shehu, in a social media statement on Monday.

He said:

  • President Muhammadu Buhari has formally conveyed to the Hon. Minister of State, Labour and Employment, Festus Keyamo, SAN, his approval of the nomination of Mallam Abubakar Nuhu Fikpo, as the Acting Director-General of the National Directorate of Employment, pending the appointment of a substantive Director-General for the Agency.
  • Last month, the President relieved the former DG of his appointment, and directed the Minister to nominate an Acting DG to superintend over the Agency, pending the appointment of a substantive DG.

What you should know 

  • The Federal Government through the National Directorate of Employment (NDE) formally kick-started the Special Public Works (SPW) programme, which was designed to create 774,000 jobs across the nation, with the inauguration of the State Selection Committees in 2020.
  • Nairametrics reported last month that President Muhammadu Buhari approved the sack of Dr Nasiru Mohammed Ladan Argungu as the Director-General of the National Directorate of Employment (NDE) with effect from December 7, 2020.
  • The Presidency did not give any specific reason for the sack.

Specta
Continue Reading

Coronavirus

Covid-19: WHO warns the world faces catastrophic moral failure due to vaccine nationalism

The WHO has said that the prospects of equitable distribution of COVID-19 vaccines were at serious risk.

Published

on

Dr Tedros Adhanom, Head of the World health organization (WHO), COVID-19

The World Health Organization (WHO) said the world is on the brink of a catastrophic moral failure due to the fear of Covid-19 vaccine nationalism by the wealthy countries, while the poor countries are left behind.

This is as the UN health agency revealed that the prospects of equitable distribution of the vaccines were at serious risk just as its COVAX vaccine-sharing scheme plans to start distributing inoculations in February.

According to a report from Reuters, this disclosure was made by the Director-General of the WHO, Tedros Adhanom Ghebreyrsus, at the opening of the body’s Annual Executive Board virtual meeting.

He pointed out that 44 bilateral deals were signed last year and at least 12 have already been signed this year.

What the WHO Director-General is saying

Tedros warned against vaccine nationalism to avoid making the same mistake during the HIN1 and HIV pandemic.

Specta

The WHO boss in his statement said,

  • This could delay COVAX deliveries and create exactly the scenario COVAX was designed to avoid with hoarding, a chaotic market, an uncoordinated response and continued social and economic disruption. Such a ‘me-first approach’ left the world’s poorest and most vulnerable at risk.
  • “Ultimately, these actions will only prolong the pandemic, countries should avoid making the same mistakes made during the H1N1 and HIV pandemics.’

He expressed his reservations over the ‘me-first’ attitude of the rich countries and the vaccine manufacturers who prioritize going for regulatory approval in wealthy countries rather than submitting their data to WHO for approval of the vaccines for use globally.

The global scramble for shots has intensified, as more infectious virus variants circulate.

Tedros said more than 39 million vaccine doses had been administered in 49 higher-income countries, whereas just 25 doses had been given in one poor country.

Coronation ads

Observers say this board meeting, which lasts until next Tuesday, is one of the most important in the U.N. health agency’s more than 70-year history, and could shape its role in global health long after the pandemic ends.

What you should know

  • The WHO and health experts had severally warned against nationalism as a serious threat to the fight against the coronavirus pandemic.
  • They had called for an equitable distribution of the Covid-19 vaccine amongst all countries globally, as the wealthy nations will still be at risk of the pandemic if the poor countries are still battling with the disease.

Continue Reading
Advertisement




Advertisement