MSM Group eyes Femi Otedola’s Geregu Power Plant, targets multi-billion dollar investment in cement

As part of an ambitious expansion strategy, Nigerian conglomerate, MSM Group, is ramping up its footprint in the country’s industrial sectors with multi – billion dollar investments in the cement industry and power plants. 
The strategic plan of the company, currently a major player in the nation’s oil and gas industry, is to diversify its operation by going into cement production and power generation with the aim of becoming a key player not only in Nigeria but across Africa’s energy and construction sectors. 
Its immediate goal in the construction sector is to be a formidable competitor to established industry giants like Dangote, Lafarge, BUA and Mangal Cement. 
In the power sector, it plans to acquire the Geregu Power Plant, one of Nigeria’s most strategic power assets owned by billionaire philanthropist, Femi Otedola.
Industry watchers ascribe the group’s ambitious strategic moves to what they describe as the current administration’s “economic reforms and investors-friendly policies”.
They believe that the group’s expansion drive could significantly alter the competitive dynamics of both the energy and construction markets in Nigeria and Africa. 
Recently, the group signed a $2.4 billion agreement with the Kebbi State Government for the development of a three-million metric ton per annum cement plant. The project, which is expected to generate over 45,000 direct and indirect jobs, marks one of the largest industrial commitments in the region in  recent years. 
The signing ceremony was held in Abuja and  attended by top officials of Federal and  Kebbi Governments. The project aligns with Nigeria’s broader industrialization drive and is set to stimulate economic activity in Northern Nigeria. 
 The company’s ambitious expansion plans, unveiled by its Chairman,  Alhaji Muazzam Mairawani, indicate that the new cement plant will be developed in four phases, with each phase or cluster expected to attract investment investment exceeding $600 million, marking a significant capital injection into the nation’s economy. 
“From now to production, our timeframe is a maximum of two years, ” he said, adding that MSM plans to expand to other states after Kebbi. 
Other states being targeted are Edo and Gombe. If it successfully established plants in both states, its bid to compete with Dangote, BUA  Cement and Lafarge Africa will be strengthened. 
MSM Group, it was  learnt, has embarked on an industry wide recruitment drive to support its growing operations and fill vacancies across its portfolio. 
“Yes, we plan to expand our operation.  That’s all that can  be said for now , ” an official of  MSM Group, who craves anonymity, said.  
MSM Group is active in pipeline metering which is “the process of accurately measuring the flow of fluids such as oil, gas or water through pipelines”.