Mbacké said the factory would produce 2.5 million tonnes of cement per annum, create 1,000 direct jobs and 5,000 indirect jobs.
"Construction works at the cement factory started more than one month ago in Pout, in the Thiès region, some 60 kilometres east of Dakar," Mr Mbacké said.
He said the group, which is involved in cement production, hydrocarbons and food processing, targets the market of the sub-region, including Mauritania, Mali, Niger and Côte d'Ivoire.
Mr Mbacké said Dangote was already established in Benin and Ghana.
He also announced the launch of feasibility studies for the construction in Senegal of a new sugar factory, maintaining that his group is ready to provide hydrocarbons without financial guarantee to the National Electricity Company (SENELEC).
The Dangote Group's turnover stands at more than 1,000 billion francs CFA per year and it has several subsidiaries in Africa.