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Museveni, investor in mega cement deal

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Museveni, investor in mega cement deal

President Museveni shake hands with Mr. Narendra Raval an investor from Kenya

President Museveni shake hands with Mr. Narendra Raval an investor from Kenya

President Museveni has said by attracting more investors the industrial base will grow and more Ugandans will be employed. He said this will lead to an increase in economic production and people will be able to pay tax indirectly by buying the products.

Museveni was recently speaking in a meeting with a delegation from Devki Steel Mills limited led by the Chairman Mr. Narendra Raval at State House Entebbe. Devki is a company based in Nairobi, Kenya and is the largest manufacturer of cement in East Africa.

The President said governments’ concern at the moment is creating jobs to employ more Ugandans and to add value on the raw materials in order to get more returns. He said what Uganda needs is investments in industrial products, agricultural products and services among others.

The President pledged governments’ support towards the establishment of the project in Uganda and noted the need to improve on infrastructure development in order to reduce on the cost of transport and electricity so as to attract more investments and increase on production.

Mr. Narendra Raval told President Museveni that their company plans to invest US$ 200 million in the production of cement in the districts of Moroto and Tororo. He said the project that is expected to employ over 800 Ugandans, aims at producing more cement in Uganda so as to make people construct houses at affordable prices.

The meeting was also attended by State Minister for Investment Hon. Gabriel Ajedra Aridru among others.

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