Devki to set up Sh11b steel factory in Taita Taveta
Business
By
Renson Mnyamwezi
| Jul 02, 2024
The government has designated Taita Taveta County as a strategic processing and value-addition centre for iron ore mining in Kenya, Mining and Blue Economy Cabinet Secretary Salim Mvurya has said.
The CS said the county is now positioned on the road map for iron ore processing and value addition to stimulate investment and socio-economic growth.
This comes as the Devki Group of companies announced plans to set up a Sh11 billion steel factory in the region. It has identified a site at Manga Hill near Voi town along the busy Nairobi-Mombasa highway for the mega project.
Mvurya challenged the governor and the commissioner to move quickly to resolve the management crisis at Kishushe Ranch, which involves three camps claiming to be the bona fide officials of the ranch, rich in iron ore extraction.
READ MORE
MPs pass Bill banning hospital detention over unpaid bills
Kenya begins 42-day countdown to Ebola-free status
KRA moves to enforce 15 per cent minimum tax on multinational companies
When voters speak, politicians must listen: Lessons for Kenya in US midterm elections
State approves Sh96.95 M compensation for 157 protest victims
Trials intersex children undergo in quest for identity, acceptance
Mr President, you can't concede today and rewrite history tomorrow
"The national government will play its part in addressing the land and management conflict. Go and resolve the conflict as the county positions itself for the mega project that will transform the lives of the local community," the CS directed the governor and county commissioner.
Mvurya highlighted that the county has taken a leading position in mineral resources, and the ongoing reforms in the mining sector will significantly enhance the economy.
The CS noted that the government has identified the available mineral resources in the country through a completed airborne survey, revealing over 970 mineral occurrences nationwide.
"There is enough mineral wealth, and we have already done zoning. The county has been designated for iron ore processing and value addition to create more wealth and address poverty and unemployment. With the radical reforms being carried out by the government in the mining sector, we expect the GDP to increase from one per cent to ten per cent," stated Mvurya.
Why the super-rich are abadoning the property market
Prices of apartments in Kiambu, Ngong, and Ruaka cooled off in the third quarter of the year, resulting in a drop in the amount of rent charged during the period.Co-op Bank investors to receive Sh8.8b payout after profit surge
Co-op Bank will pay out Sh8.8 billion in interim dividend to its shareholders after net earnings for the nine months to September 2026 rose by 27.2 per cent to hit Sh27.4 billion.Mombasa industrial park set for Sh90 billion power plant, AI project
Mombasa is set to host a Sh90 billion energy and AI infrastructure project, following a partnership between Amaco Energy S.A and Arise Integrated Industrial Platforms (ARISE IIP) Kenya.KEBS seeks tougher rules on imported and locally made goods as MPs review drafts
KEBS is pushing for stronger regulation of imported and locally manufactured products, as Parliament scrutinises draft rules meant to close gaps in the standards and quality control system.KeNHA reports over 99 per cent axle load compliance
Axle load compliance across key transport corridors has increased to over 99 per cent driven by increasing engagement between KeNHA and truckers and cargo owners.MOST READ
- Co-op Bank investors to receive Sh8.8b payout after profit surge
BUSINESS
By Brian Ngugi
- Mombasa industrial park set for Sh90 billion power plant, AI project
REAL ESTATE
By Patrick Beja
- KEBS seeks tougher rules on imported and locally made goods as MPs review drafts
SHIPPING & LOGISTICS
By Patrick Beja