Kenyan tycoon Narendra Raval, who runs the Devki Group, East Africa’s largest building materials company, is constructing two new cement factories in the country worth millions of dollars, Forbes reports.
According to a report by Construction Kenya, the first plant will have the capacity to produce 750 million tonnes of cement per annum and will be situated on a 20-hectare plot in Mariakani, Kilifi County, in Kenya’s coastal region. A second plant that will have a similar capacity will be located in Nakuru, northwest of Nairobi.
The Kenyan multi-millionaire has also recently constructed a multi-million dollar Cement clinker plant at Merrueshi/Mbirikani in Kajiado County, 80 km south of Nairobi. President Uhuru Kenyatta is expected to officially launch the facility next month.
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Raval says the two new cement plants will help to significantly reduce the price of cement and reduce the distances covered by vehicles delivering the material to construction sites across Kenya.
Raval’s Devki Group is among one of the top three cement producers in Kenya. The company produces Kenya’s most popular cement brands, Simba Cement. The company also owns a cement grinding facility and a clinkering plant in Kenya.
“When we launched our operations six years ago, our goal was to reduce the cost of housing and it is being realized as we have managed to offer quality cement at $5 ex-factory compared to the then market price of $7 per 50-kilogramme bag before our entry,” Raval said in an email message.
Raval, popularly referred to as ‘Guru’ in Kenya’s business and social circles, is the founder of Devki Group, a company with annual revenues of more than $600 million. The company produces steel products, roofing sheets and cement among other things. The renowned philanthropist is the author of Guru Bhai: An autobiography of Narendra Raval, which will be released later this year.