Building material billionaire Narendra Raval plans to invest in a 750-million tonne cement plant on a 20-hectare land in Mariakani, Kilifi County. This will be the second factory in the county after ARM Cement #ticker:ARM.
Mr Raval, popularly known as Guru, owns a cement grinding plant in Lukenya, Machakos and a clinkering plant at Simba town, Kajiado. His Devki Group owns steelmaking factories in Athi River, Machakos and Ruiru town, Kiambu.
The investment comes at a time players are talking of excess capacity. Bamburi and Savannah plan to increase cement production soon.
Karsan Ramji and Sons’ Ndovu brand is expected to hit the market shortly while Global Choice Ltd also plans to build a Sh5 billion cement plant in Athi River next month once environment agency grants them a nod.