A Memorandum of Understanding has been signed between the Nasarawa State government and two Abuja based companies for the construction of a five-star hotel and a feasibility study for the establishment of a cement factory.

Harbin Cement Nigeria Limited which is among the two companies will embark on a bankable feasibility study for the establishment of a cement factory in the state while Simans Hotels and CGGC Ltd will partner the state government for the construction of a five-star hotel in Lafia.

The feasibility study for the cement factory which is to last for 6 months will cost N155 million which the state government will pay N93 million as 60 per cent while Harbin Cement Nigeria will, pay N62 million which is 40 per cent cost.

The feasibility study will, among other things undertake geological survey to determine the quality of limestone and its commercial viability and to also access the cost of the project including environmental impact.