The cement industry is one of the most structured industrial activities, which is located all over the national territory. There is undisputable demand from both the domestic and foreign market due to rising infrastructural development. To comprehend the need to meet the regional development and poverty alleviation goal of the government, an integrated investment appraisal framework has been used as the methodology to assess the financial, economic, stakeholders and risks that impact of this project. Although both domestic and international demand is high, the market for the output has been greatly limited to the domestic market by the government. The financial analysis shows that the owners will generate a positive net present value; the lenders will be reasonably satisfied since the project will be able to repay the loan over the duration. However the project is exposed to some level of risk in the initial years of loan repayment. The government gains from foreign exchange of Portland cement clinker exports and the taxes from domestic sales of cement.