M a r k e t N e w s

Kenyan steel maker to invest in metal sheet production

Posted on : Thursday, 27th November 2014

 

Kenya-based steel company Devki Group will invest US$321.2mn in the manufacturing of metal sheets used to produce roofing sheets and key automobile components
The company will start the production of Aluzinc, which is used in making exhaust pipes and chassis. Devki has plans to export up to 40 per cent of its Aluzinc to automotive industries in South Africa and Europe.
The firm has confirmed that work will commence as early as October.
Devki Group founder and CEO Narendra Raval said, “We are primarily targeting the local roofing market with this line of metal sheets. We will also export the product as we wait for local auto manufacturing to grow.”

Source : www.africanreview.com
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