The government is keen on elevating Kenya to the global iron and steel value chain. President William Ruto said 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,” the President said.
He assured investors of the government’s support, including the elimination of brokers and abolishment of punitive levies and taxes.
The President observed that the consumption of steel will spike as the government embarks on its infrastructural, manufacturing and affordable housing programmes.
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He was speaking on Friday at the opening of the Devki integrated steel plant — the first ever in Kenya — in Samburu, Kwale County.
The Sh30 billion 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 a year.
“This is a milestone in our industrialization journey as it will advance our economic transformation plan,” explained the President.
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”.
