The Government of Kenya is keen on elevating Kenya to the global iron and steel value chain.
According to President William Ruto, policies to stimulate the sector are already being developed.
"We are laying out a long-term roadmap for the growth of the iron and steel industry in our country," said President Ruto.
Ruto has assured investors of the Government's support, including eliminating brokers and abolishing punitive levies and taxes.
The President observed that steel consumption will spike as the Government embarks on its infrastructural, manufacturing and affordable housing programmes.
He was speaking on Friday at the Devki integrated steel plant opening — the first ever in Kenya — in Samburu, Kwale County.
The Ksh30 billion ($246 million) plant, with more than 1,000 employees, is one of the largest in the region and will save the country foreign exchange of more than Sh60 billion ($491.8 million) annually.
"This is a milestone in our industrialization journey as it will advance our economic transformation plan," added Ruto.
But even as the iron and steel sector is revived, the President warned that "we should find ways to mitigate against its adverse impact on the environment".©Standard Gazette, 2021. Unauthorized use and/or duplication of this material without express and written permission from this site’s publisher is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Standard Gazette with appropriate and specific direction to the original content.