M a r k e t N e w s
China- Kenya agreement to develop a multi billion steel plant in Kenya
Posted on : Monday, 22nd June 2015
A multi billion shilling steel plant is upcoming in Kenya as high consumption of steel-related products in the country and region is being witnessed.
The new steel plant is set to be constructed following the penning of an agreement between Kenya and Sinosteel – the company will undertake the investment.
The new steel plant will see the country quell an expected demand of 2.5 million metric tonnes for steel per year. Kenya is anticipating that the demand will double shoot by 2030, according to Adan Mohamed, the now Cabinet Secretary for Industrialization and Enterprise Development.
The steel plant will need coal, in addition to other raw materials – iron ore deposits – found in many parts of the country like; Meru, Kitui, Taita Taveta, Homa Bay and Kakamega.
In 2013, Kenya still had a shortfall on the amount of steel even after importing about 1.8 million Metric tonnes of steel. Thus, the new steel plant might help reduce importation.
Source : constructionreviewonline.com
