A new state of the art steel mill was launched on Nov. 24 in Uganda, which promises to create thousands of jobs and contribute to regional industrialization. The $550 million project was inaugurated by Uganda’s President Yoweri Museveni, President of Kenya William Ruto, and President of Rwanda Paul Kagami, as well as Kenyan industrialist, Chairman of the Devki Group Narendra Raval, the builder and owner of the steel mill.
“For over 500 years, we have been losing value through slavery, colonialism, and the export of raw materials,” said Museveni at the ceremony. “With this integrated steel operation, we move closer to ending that hemorrhaging of our minerals, our jobs, and our foreign exchange.”
President Ruto said: “This transformative investment will not only serve Uganda but also Kenya and the region. The Devki steel mill, he added, would also create new value chains, cut import bills and create new opportunities.”
The project will initially employ 400 workers, but when completed in December 2027, it could create as many as 20,000 regional jobs and provide steel for Uganda, Kenya, Rwanda, and Tanzania.
When completed, the plant is expected to produce 1 million tonnes of steel annually. Uganda is rich in iron ore, which is among the purest in the world. The project is in line with Museveni’s policy of forbidding to export unprocessed iron ore and other mineral resources. Raval welcomed government assurances that steel imports would be restricted once domestic output rises. “Uganda will be on the global map as a primary steel producer,” he said.
Born in India and now a citizen of Kenya, Narendra Raval heads a conglomerate that operates across industrial sectors including steel, cement, fertilizers, packaging, aviation and communications. With a workforce of more than 14,000 employees, Devki is the largest private-sector employer in Kenya.
