Blue Nile Rolling Mills Limited, a steel manufacturer based in Thika, Kiambu, has launched Sh2 billion galvanised wire plant targeting both construction and engineering sectors as the demand for construction materials soar.
The investment comes barely three months after the company received Sh 862 million loan from the International Finance Corporation, the private lending arm of the World Bank, to fund their expansion.
Blue Nile Rolling Mills Limited, is locally known for Kifaru brand of steel products.
The new plant launch was graced by Industrialisation, Trade and Enterprise Development Cabinet Secretary Betty Maina who lauded the investment as timely and that has the potential to create a wide pool of employment opportunities and enrich the growth of locally–owned enterprises and products.
“I congratulate the local manufacturer, as they have demonstrated their capacity and zeal in investing in a new company amid the Covid-19 pandemic,” the Cabinet Secretary said.
She further said the investment is as an endorsement of the confidence the company has in Kenya.
Ms Maina added that the manufacturing sector has played its part in cushioning the country from the impact of Covid-19 by providing support in its specific areas of operation.
Blue Nile Rolling Mills Limited managing director Mr Kotni Rao said the new plant has the capacity to produce 3,000 metric tonnes of steel products per month, targeting both local and East African as well as the global markets.
Mr Rao said other products include more than 158 products such as barbed wires, chain link, nails and mild steel plates.
“Manufacturers’ reliability, sustainability, innovation and smart practice has seen us access more markets in the country, regionally and globally as far as Australia, Europe and America,” he said. “In 2012, Blue Nile Wire Products and its strategic partners founded Blue Nile Rolling Mills to establish a manufacturing facility for hot rolled steel products.
This Division Manufactures Kifaru Steel TMT bars (aka. Kifaru Steel Rebars, Kifaru Steel Reinforcement Bars, Kifaru Steel Deformed Bars) under the Brand Kifaru 500+. Kifaru Steel manufactures,” Blue Nile Rolling Mills Ltd says on its official website.
Source: Business Daily Newspaper.