Berbera Development News
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MSG Group inks a deal for a cement plant in Berbera, Somaliland
MSG Group of Companies through its DIFC Dubai based subsidiary company Horn Holding Group ltd (HHG) has signed an agreement with Bedeschi SPA for the construction of phase 1 of a full cement plant which will take about 18 months with an installed production capacity of 700 000 tpy of cement.
www.worldcement.com
MSG Group of Companies through its DIFC Dubai based subsidiary company Horn Holding Group ltd (HHG) has signed an agreement with Bedeschi SPA for the construction of phase 1 of a full cement plant which will take about 18 months with an installed production capacity of 700 000 tpy of cement. The entire full plant project shall take 3 years to complete with a production capacity of 3300 t of cement and 3000 t of clinker per day. The agreement is as a result of negotiations lasting over year led by Bergs & More a leading law, tax and financial advisory firm with well established presence in Europe, Middle East and Africa.
Somaliland is a net importer of cement hence this facility will put it not only in the maps of a cement producing nation but also an exporter of cement earning the country the much-needed revenues as well boosting the exports with a long-term positive effect on the country’s balance of trade. The Phase 1 of the project is expected to translate to employment opportunities for locals during both the construction phase as well as once the factory comes to life. An estimate of 300 Somalilanders are expected to benefit directly from this project by way of employment and another 200 plus citizens to benefit indirectly. To the region the project will spare economic growth through opening infrastructural development as well as trading opportunities for both wholesale and retail businesses.
Its proximity to the Berbera port, would be key to the export of the cement which will, in the long run, lower shipping costs to Berbera since the freight companies would have a range of cement products to ship outbound.
Speaking at the signing ceremony, Mr. Mohamed Said Guedi, the group Chairman, expressed high confidence that the project would be a success and will be one whose economic benefits will not only flow back to the MSG group but as well to the government of Somaliland and its citizens. MSG group is widely known for its appetite to undertake huge complex projects having successfully deployed fibre Optic cable across Somaliland linking Djibouti, Ethiopia and Somalia. The general public believe that the project will be a success owing to the past successes as well as the experience of the Group Management team which is a blend of different multinationals tapping on the diverse talent abilities within its work force.
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