Nigeria's business magnate Aliko Dangote has announced plans to invest an undisclosed sum in the development of a major coal mine in Tanzania.

According to Tanzania’s Guardian newspaper, Dangote revealed his plans during the meeting with Tanzania’s Vice President Dr. Mohammed Gharib Bilal, during the Africa Global Business Forum in Dubai, the United Arab Emirates.

Dangote said he plans to invest significantly in the Mbinga coal mine in Tanzania’s southwestern region, as he plans to use the coal to produce energy for use at his cement plant in Mtwara which is currently in construction.
When completed, the Dangote Cement plant will produce three million tonnes of cement per year, almost half of the country’s net production.

“I am sure the southern part of Tanzania will automatically change in terms of economic prospects due to
investments in the area,” he said.

Dangote is s also planning to invest another $12bn in the Nigerian economy, for which more power plants and a $9 billion refinery should spring up.

In his Eid-el-Kabir message he said the Group will invest $2.3bn in sugar and rice production in Adamawa State to create about 180,000 jobs and combat terrorism in the North-East of the country, whereas another $4bn will be invested in other parts of Africa in the next five years.