Narendra Raval, the leading Kenyan industrialist, is witnessing an unprecedented surge in demand for the steel products of his multi-product manufacturing corporation, Devki Group, within its operating subsidiary.
In response to this escalating market demand, Devki Steel Mills located in Samburu, Kwale County, under the leadership of Narendra Raval, is intensifying its operations with the aim of reaching full capacity within the next three months. The influx of orders from Tanzania and Uganda has compelled the company to expedite its production process.
The chairman of Devki Group, Raval, credited the surge in orders to the company’s competitive pricing and innovative production methods.
Since its establishment in November of the previous year, Devki Steel Mills has been operating at 60 percent capacity primarily due to domestic orders.
The arrival of numerous new orders from neighboring countries has compelled the company to expedite its production process and achieve full capacity by October of this year.
Raval highlighted that the company’s utilization of cutting-edge technology, such as the conversion of heat into electricity, has facilitated the production of cost-effective steel products.
Through the strategic utilization of locally sourced iron ore, Devki Steel Mills has emerged as the pioneering virgin steel production plant in the region. This implementation of advanced technology has enabled the company to provide cost-effective solutions while maintaining uncompromised quality standards.
What you should know about Devki Group
Devki Group has taken a pioneering approach to tackle the escalating electricity costs by generating its own power. Through harnessing the heat emitted from their kilns, the plant has accomplished a remarkable feat of producing 55 megawatts of clean energy.
Achieving self-sufficiency has resulted in a significant reduction in expenses for Devki Group, while still maintaining an operational capacity of approximately 80 percent.
Since its inauguration in November 2022, Devki Group’s steel production unit in Kwale County has already made notable contributions to the local economy. Boasting a production capacity of 500,000 metric tonnes, the mill has not only generated employment opportunities but also played a significant role in job creation, with 60 percent of the positions being direct employment.
Devki Group’s rapid expansion has played a pivotal role in Kenya’s efforts to decrease its reliance on imported industrial steel products like billets, wire rods, and TMT bars. This has significantly enhanced the country’s self-sufficiency in the sector, bolstering its domestic steel production capabilities.
Founded by Raval in 1986 as a modest steel-processing and trade enterprise, Devki Group has undergone a remarkable transformation over the years. Today, it stands as the largest manufacturer of building materials and steel products in East and Central Africa, a testament to Raval’s unwavering drive and vision.
Raval, whose net worth was estimated at $400 million in 2015, continues to hold the majority of shares in the privately held manufacturing conglomerate.
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