Kenya has signed an agreement with a Chinese firm, Sinosteel, to develop a steel plant in the country.
Industrialisation and Enterprise Development Cabinet Secretary Adan Mohamed said Kenya had a demand of about 1.8 million metric tonnes of steel annually as at the end of 2013. This demand, he added, is forecast to grow to 2.5 million metric tonnes by 2020 and be doubled by 2030.
"The on-going real estate boom, Standard Gauge Railway project construction, Lapsset corridor and the 10,000km new road network project provides an excellent off-take for steel and steel products," he said.
The regional demand amplifies this further with expected investment in regional infrastructure projects running into billions of dollars in the next three to five years, he said in a statement released after the signing ceremony in Beijing China last week.
The Standard Gauge Railway will connect Mombasa to Malaba (with a branch line to Kisumu) onward to Kampala, Kigali and Juba.
Source:standardmedia.co.ke
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