The government is keen on elevating Kenya to the global iron and steel value chain.
President William Ruto said Friday November 18 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.”
He assured investors of the government’s support, including the elimination of brokers and abolishment of punitive levies and taxes.
Ruto observed that the consumption of steel will spike as the Government embarks on its infrastructural, manufacturing and affordable housing programmes.
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 industrialisation 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”.