Cement News tagged under: Devki Group of Companies
National Cement continues to plot a successful course in east Africa25 January 2019, Published under Cement NewsThis week, China's Sinoma Energy Conservation announced that it has a contract with National Cement Co Ltd (Devki Group) to build a new waste-heat power project at its Athi River cement plant. The leading east African cement producer will provide a KES25.5bn (US$251m) investment for Sinoma to provide power for its Athi cement plant as well as a power unit for its raw steel processing factory in Mombasa. "The total installed capacity of the two projects is 53.5MW… The project (over a pe... |
Kenya's cement consumption drops by 15% in 9M1815 January 2019, Published under Cement NewsKenya is stuck in a spiral decline of cement demand with sales continuing to plumit in the first 9M18. According to official data the country's cement consumption fell by 113,096t to 4.13Mt in the first 9M18, compared to 4.24Mt in the first 9M17. Narendra Raval, chairman of Devki Cement group, said: "Cement sales are down 15 per cent." There are various reasons for the decline including a wave of countrywide demolitions that have discouraged new investment. "The main reason is people are... |
Devki Group complains of substandard imports flood20 March 2018, Published under Cement NewsDevki Group's Chairperson, Narendra Raval, has spoken out against imported cement that is disrupting the Kenyan cement market and has criticised the Kenya Bureau of Statistics (KBS) and Kenya Association of Manufacturers (KAM) for not taking action to protect local producers. Narendra Raval said: "Those importing to Kenya are not monitored. Their cement is substandard and below the normal 50kg. This is killing the local industry." Mr Raval questioned why the KBS and KAM is not ... |
National Cement Co to receive IFC cash injection24 July 2014, Published under Cement NewsKenya-based National Cement Co Ltd (NCCL), a member of the Devki Group of Companies, is to receive a KES5.9m (US$70m) cash injection from the International Finance Corp (IFC) to fund its two-phase expansion project. Under the agreement, the IFC will provide US$55m in debt. In addition, IFC and the IFC African, Latin American and Caribbean Fund, will inject US$15m in equity into National Cement and will have a seat on the company’s board. The equity injection will see National Cement un... |
National Cement to open new 1.65Mta Nairobi works21 November 2012, Published under Cement NewsNational Cement announced plans to open a new 1.65Mta cement works in the outskirts of Nairobi, Kenya. The company said it received an undisclosed loan from KCB Group, raw materials on credit and a cash injection from its parent company Devki Group of Companies to finance the new KES11.9bn. The new capacity is expected to intensify to battle for control of the regional cement market. The entry of National Cement and Mombasa Cement increased competition with the latter rapidly claiming... |
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