NAIROBI, August 4 – A multinational firm has announced plans to establish a Sh14 billion cement manufacturing plant in Pokot district.
The Mehta Group of Companies seeks to exploit the large deposits of limestone which is the key raw material in the manufacture of cement.
They are interested with the site as it\’s close to the target markets of Sudan and Ethiopia.
President Mwai Kibaki has welcomed the proposal noting that the move would help spur the local economy and create jobs for area residents.
The President made the remarks at his Harambee House Office during talks with M.N. Mehta the proprietor of Mehta Group of Companies who paid him a courtesy call.
The cement manufacturing plant would have a capacity to produce one million tonnes of cement per year.
The President however advised that all environmental concerns must be addressed adequately in consultation with key stakeholders to ensure sustainable development in the interest of current and future generations.
He asked the relevant ministries to work closely with the prospective investors to ensure that the investment is successful.
He also urged other multinational companies to take advantage of the favourable business environment existing in the country and invest in various sectors of the economy which can guarantee rewarding returns.
President Kibaki noted that his Government has instituted elaborate measures to cut the cost of doing business as well as ease procedures in establishing businesses in the country.
The President noted that it was only through increased investments that the country would create adequate job opportunities for the majority youthful population in the country.
The Head of State noted that Kenya\’s strategic position geographically would enable any multinational company easy access not only to the East and Central African market but the entire African continent.
The multinational company has invested in a wide range of business interests in manufacturing of cables and agricultural equipment, floriculture, sugar growing and milling, building materials, management and finance.
It controls assets in excess of US $350 million and with over 15,000 employees worldwide.
Mehta Group is a multinational, multi-activity enterprise with a global presence spanning four continents – Asia, Europe, North America and Africa.