Kenyan billionaire industrialist Narendra Raval has officially opened a Ush2 trillion ($550 million) steel plant in Tororo, Uganda, marking a significant milestone in the region’s industrial development.
The plant, which is expected to produce one million tonnes of steel annually, will position Uganda as a major steel producer in Eastern and Central Africa.
The ceremony was attended by three heads of state, including Uganda’s Yoweri Museveni, Kenya’s William Ruto, and Rwanda’s Paul Kagame, highlighting the project’s regional importance.
Raval, chairman of Devki Group, said the plant will create around 15,000 direct jobs and many more indirect opportunities in transport, logistics, and mining.
The plant’s location was chosen due to Uganda’s vast iron ore deposits and the government’s policy to restrict the export of raw iron ore.
Raval praised Uganda’s predictable tax policy and mineral potential, saying it gave his company the confidence to invest in the project.
The Tororo steel plant is Devki Group’s first major venture outside Kenya and demonstrates the company’s commitment to regional growth and industrialization.
Raval emphasized the importance of steel in driving industry, transport, and housing development, saying the plant will support the region’s push for stronger manufacturing and infrastructure.
When completed in December 2027, the plant is expected to meet the region’s steel needs, reducing reliance on imports and boosting local economies.
