Kebbi State has partnered with MSM Group to establish a $2.4bn cement plant, projected to produce 3 million tonnes annually and create approximately 45,000 jobs. This initiative supports Nigeria’s industrialization goals and will utilize advanced technology, reinforcing the growth of the cement sector.
Kebbi State, Nigeria, has entered a preliminary agreement with MSM Group to establish a cement factory with an annual production capacity of 3 million tonnes, contributing approximately 5% to the nation’s yearly output. The $2.4 billion plant will be situated in the northwest region of Nigeria.
During the signing ceremony, Kebbi Governor Nasir Idris emphasized the project as a significant advancement for economic growth, stating it would provide essential employment opportunities for many unemployed youth and women throughout the region. He projected the creation of up to 45,000 direct and indirect jobs.
MSM Group, a Nigerian conglomerate involved in various sectors such as electronics, chemicals, automotive, and energy, seeks to implement “cutting-edge technology” in the new facility, as indicated by its founder and chairman, Alhaji Mu’azzam Mairawani.
Finance Minister Olawale Edun attended the signing and remarked that this initiative corresponds with President Bola Ahmed Tinubu’s strategy to attract private investment and foster industrialization. The cement sector is a vital component of the Nigerian economy, housing key players like Dangote, BUA, and Lafarge Nigeria, alongside the anticipated entry of MSM in response to burgeoning market demand.
The planned $2.4 billion cement plant in Kebbi State is poised to significantly impact local employment and economic development. With the potential to produce 3 million tonnes of cement annually, the facility embodies MSM Group’s commitment to utilizing advanced technology. This initiative aligns with national efforts to bolster industrialization through private investment, enhancing the cement industry’s growth alongside established producers.
Original Source: www.globalconstructionreview.com
