According to local media, the $2.4bn plant will be located in the northwest of the country.
Speaking at the signing, Kebbi governor Nasir Idris described the project as “a major breakthrough for economic development and a lifeline for thousands of unemployed youth and women in the state”.
Idris added that he expected the plant to create up to 45,000 direct and indirect jobs.
MSM Group is a Nigerian conglomerate with operations in fields from phone making and chemicals, to auto manufacturing and energy.
Founder and chair Alhaji Mu’azzam Mairawani said the factory would use “cutting-edge technology”.
Also present at the ceremony was finance minister Olawale Edun, who said the initiative aligned with President Bola Ahmed Tinubu’s policy of attracting private investment for industrialisation.
The cement industry has long been a strongpoint of the Nigerian economy, which is home to three of the largest producers on the continent – Dangote, BUA and Lafarge Nigeria.
But growth in demand is creating space for new players like MSM.
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Nigeria calls for investors to get delayed $18.5bn Centenary City going Holcim sells Nigerian business for $1bn, plans separation of North American subsidiary Lagos seeks companies to build 4GW-worth of power stationsNigerian conglomerate plans $2.4bn cement plant in Kebbi State Global Construction Review.
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