Kebbi State has signed a $2.4 billion agreement with MSM Group to construct a cement plant producing 3 million tonnes annually. This project is expected to create 45,000 jobs and supports Nigeria’s industrialization efforts under President Tinubu. MSM plans to utilize advanced technology, illustrating a commitment to modern infrastructure development in the cement industry.
Kebbi State, Nigeria, has reached a preliminary agreement with the Nigerian conglomerate MSM to establish a cement factory with an annual production capacity of 3 million tonnes. This ambitious project, valued at $2.4 billion, is set to represent approximately 5% of Nigeria’s total cement output.
Governor Nasir Idris hailed this initiative as a substantial advancement for economic growth within the state, emphasizing its significance in providing opportunities for unemployed youth and women. He projected that the factory will generate up to 45,000 jobs, both directly and indirectly.
MSM Group, which has diversified operations including phone manufacturing, chemicals, automotive, and energy sectors, aims to implement “cutting-edge technology” in this plant. The founder and chairman, Alhaji Mu’azzam Mairawani, has expressed optimism about the technological advancements that will be employed in the facility.
At the agreement signing, Finance Minister Olawale Edun highlighted that this initiative supports President Bola Ahmed Tinubu’s policies, which seek to stimulate private investment aimed at industrialization. The cement industry in Nigeria is significant, already dominated by major producers such as Dangote, BUA, and Lafarge Nigeria, yet MSM’s entry indicates a growing market prepared for new competitors.
The agreement between Kebbi State and MSM Group marks a pivotal step towards enhancing Nigeria’s cement production capacity while offering substantial employment opportunities for local communities. With the state’s commitment to economic development and MSM’s modern technological approach, this project expects to play a critical role in the country’s industrial growth and job creation. The sustained demand in the cement sector suggests a promising future for both existing players and new entrants such as MSM.
Original Source: www.globalconstructionreview.com
