Nigerian Conglomerate MSM to Establish $2.4 Billion Cement Plant in Kebbi State
Kebbi State has signed a preliminary agreement with MSM to construct a $2.4 billion cement plant, expected to produce 3 million tonnes annually. Governor Nasir Idris anticipates this project will create up to 45,000 jobs and supports Nigeria’s industrialization goals. MSM Group will employ advanced technology in the factory’s operations.
Kebbi State in Nigeria has recently formed a preliminary agreement with the Nigerian conglomerate MSM to establish a cement factory capable of producing 3 million tonnes of cement annually. This output represents approximately 5% of Nigeria’s total annual cement production. The planned facility will be situated in the northwest region of the state, with an investment of $2.4 billion.
Governor Nasir Idris of Kebbi expressed that this cement project marks a significant advancement for economic growth and provides crucial opportunities for the many unemployed youth and women in the state. He anticipates the creation of around 45,000 direct and indirect job opportunities as a result of this initiative.
The MSM Group, which spans various sectors including telecommunications, chemicals, automotive manufacturing, and energy, is committed to using advanced technologies in the construction of this factory. Founder and Chair, Alhaji Mu’azzam Mairawani, highlighted the importance of leveraging innovative techniques in the manufacturing process.
Finance Minister Olawale Edun, present at the signing ceremony, underscored that this initiative supports President Bola Ahmed Tinubu’s aim to attract private investments that foster industrialization. Notably, the cement industry remains a vital sector for Nigeria’s economy, featuring major players such as Dangote, BUA, and Lafarge Nigeria, indicating robust demand for new entrants like MSM.
In summary, the agreement between Kebbi State and MSM to construct a $2.4 billion cement plant represents a significant investment in Nigeria’s industrial landscape. The project promises substantial job creation and aligns with national strategies for economic development and industrialization. Furthermore, it highlights the evolving nature of Nigeria’s cement industry, welcoming new participants amidst increasing demand.
Original Source: www.globalconstructionreview.com
