State takes on steel tycoons with new Sh220bn plants


President William Ruto with Devki Group chairman Narendra Raval (right) during the opening of Devki Steel Mills Factory in Samburu, Kwale County in 2022. FILE PHOTO | NMG

The Kenyan government plans to spend Sh220 billion in the next five years to set up new iron and steel plants in a move that is likely to rattle private sector players in an industry that is under the tight grip of a dozen tycoons.

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