Kebbi State signs an agreement with MSM for a $2.4bn cement plant, aiming for 3 million tonnes annual production. The project could create 45,000 jobs and aligns with Nigeria’s industrialization policies. MSM plans to utilize advanced technology in its operations, entering a growing cement market dominated by existing firms.
Kebbi State, Nigeria has finalized a preliminary agreement with MSM, a local conglomerate, to establish a cement factory with an annual production capacity of 3 million tonnes. This output will represent approximately 5% of Nigeria’s total cement production. The proposed $2.4 billion facility will be located in the northwest region of the country.
Kebbi Governor Nasir Idris praised the project, calling it a significant advancement for the region’s economic growth. He indicated that it would provide substantial employment opportunities, estimating the creation of about 45,000 direct and indirect jobs for local youth and women.
The MSM Group, which diversifies into manufacturing phones, chemicals, auto products, and energy, will employ advanced production technologies for the new plant. Alhaji Mu’azzam Mairawani, the group’s founder and chairman, emphasized the project’s technological edge.
Olawale Edun, Nigeria’s finance minister, highlighted the initiative as aligned with President Bola Ahmed Tinubu’s goal of stimulating private sector investment for industrial growth. The cement industry remains integral to Nigeria’s economy, dominated by major firms such as Dangote, BUA, and Lafarge, while creating opportunities for emerging players like MSM due to rising demand.
In summary, the planned $2.4 billion cement plant in Kebbi State aims to enhance local economic development by significantly increasing cement production capacity and generating thousands of jobs. This initiative reflects a broader commitment to industrial growth in Nigeria’s economy, enabling new entrants like MSM to capitalize on the increasing demand in the cement sector.
Original Source: www.globalconstructionreview.com
