Market News

 The IDC has been trying to secure sufficient energy supplies to convert its plans into a reality, since the plans to launch a new steel mill were revealed last year. The IDC is part of a group including Chinese steel producer Hebei Iron and Steel, which acquired a 74.5 per cent stake in Palab . . .

 Sri Lankan President Mahinda Rajapaska recently visited Kenya during the East African nation's 50th independence ccelebrations. The visit was intended to open new collaborative economic opportunities for the governments and their respective private sectors.  Eight Mem . . .

 Kenya’s government is currently considering the final iteration of a bill that would establish three special economic zones (SEZs) within the country. The SEZs will allow lower levels of taxation and fewer regulatory hurdles, and will focus primarily on industrial activity, in particular . . .

  Kenya-based steel company Devki Group will invest US$321.2mn in the manufacturing of metal sheets used to produce roofing sheets and key automobile components The company will start the production of Aluzinc, which is used in making exhaust pipes and chassis. Devki has plans to export up to . . .

 The first phase of the project, which is targeted to produce 40,000 tonnes of ferrochrome annually, will be set up in Selous. The company recently said the project would require 100,000 tonnes of chrome ore and 24,000 tonnes of coke annually. “Most of the raw materials for the processi . . .