Metal multi-millionaire invests Sh1.8bn in fertiliser after ARM deal

0 16
Companies

Tuesday June 01 2021

DEVKI

Devki Team founder and CEO Narendra Raval. FILE PHOTO | NMG

Metal billionaire Narendra Raval has invested Sh1.8 billion in upgrading the fertiliser plant his agency obtained in the buyout of ARM Cement, marking the multi-millionaire’s most up-to-date multibillion-shilling investment.

The investment will triple the plant’s manufacturing capacity to 300,000 metric tonnes of fertiliser every 365 days.

The reinforce of the fertiliser blending plant comes less than two years after Mr Raval’s, Nationwide Cement Company, paid Sh5 billion to total the acquisition of ARM Cement resources in Kenya.

The fertiliser division turned into as soon as the third arm under ARM Cement. Athi River has other alternate divisions producing cement, chemical substances and industrial minerals.

“The total price of investment in this project is Sh1.8 billion. The money will lag into shopping contemporary machinery and upgrading the plant to contemporary standards,” acknowledged Mr Raval in an interview with the Industry Day-to-day on Monday.

The plant – which has been renamed Maisha Mineral Fertiliser Restricted (MMFL) will sit on 11 acres in Athi River, Machakos County.

Maisha Mineral Fertiliser will be a processor and dealer of a large amount of fertilisers equivalent to Mavuno Planting, Mavuno vegetables and Mavuno high dressing.

The granulated fertilisers are of various grade of blended nitrogen, phosphorous and potassium looking on the slash requirements.

The plant, way to turn out to be fully operational in the next two months.

“Now we uncover been constructing the contemporary plant for the final one 365 days. We query of to start in the next two months. By then, the plant might maybe well well peaceable be 100 per cent operational,” he acknowledged.

Leave A Reply