Companies

Shoe firm seeks nod to step into cement manufacturing

kshoe

The K-Shoe shop along Kenyatta Avenue in Nairobi on March 28, 2016. FILE PHOTO | SALATON NJAU | NMG

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Summary

  • The firm, through its subsidiary—Shreeji Enterprises Kenya Limited— has sent an application to the National Environment Management Authority (Nema) seeking clearance for the project that will occupy 11.33 hectares.
  • The project will be along Nairobi-Mombasa Highway and will be in addition to the vehicle and aircraft repairs business that NBV is also lining up to lift revenue.

Shoe-seller Nairobi Business Ventures (NBV) is seeking nod to set up Sh15 billion cement manufacturing plant in Machakos barely a month after announcing plans to diversify into new sectors to grow revenue.

The firm, through its subsidiary—Shreeji Enterprises Kenya Limited— has sent an application to the National Environment Management Authority (Nema) seeking clearance for the project that will occupy 11.33 hectares.

The project will be along Nairobi-Mombasa Highway and will be in addition to the vehicle and aircraft repairs business that NBV is also lining up to lift revenue.

The proponent, Shreeji Enterprises (Kenya) Limited, proposes to establish a cement manufacturing plant coupled with installation of a sodium silicate plant and storage facility,” said Nema in a gazette notice.

The notice shows that Shreeji will also set up a PPR bags plant and storage facility, a tyre retreading unit, a transport and logistics centre, an office block and quality control laboratory.

Nema has given the public 30 days to give comments on the environmental impact of the proposed projects before making a final decision.

The Nairobi Securities Exchange-listed firm has also lined up Sh3 billion to buy three companies involved in transport sector.

The planned venture into new lines of business for a firm that started off as a shoe seller comes barely seven months after Delta International bought 84 percent stake at Sh83 million.

Delta is owned by Haresh Vrajlal Damodardas Soni and its local and regional subsidiaries include Delta Holdings Kenya (real estate), Shreeji Glass Uganda (chemical manufacturing) and Shreeji Chemicals Kenya.

NBV started out as a shoes distributor in Kenya through the brand name ‘Kwanza shoes’ and ran on the model of importing shoes from China and India. The company later in 2013 changed the brand to ‘K-Shoe.’

The firm returned Sh34.72 million loss in the year ended March 2019 and booked Sh70,000 net profit in half year ended September, with accumulated losses standing at Sh167.4 million.