The East African power generation projects will receive a major shot in the arm after a Sri Lankan company has revealed plans to set up a cable manufacturing plant  in Kenya. Sierra Cables which is listed on the Colombo Stock Exchange made the decision after completing a feasibility study of setting up a cable manufacturing plant in Nairobi. The company has however not disclosed the amount of money to be pumped into the plant.

The East African power generation projects will receive a major shot in the arm after a Sri Lankan company has revealed plans to set up a cable manufacturing plant  in Kenya. Sierra Cables which is listed on the Colombo Stock Exchange made the decision after completing a feasibility study of setting up a cable manufacturing plant in Nairobi. The company has however not disclosed the amount of money to be pumped into the plant. 

This comes at a time when the huge electricity projects and transmission projects are implemented in the country and the East Africa region.
The cable making company makes cable for use in transmission of electricity and domestic electrical wiring. The cables will also be used by telecommunication companies in Kenya.
The Colombo Bourse stock exchange filing said the firm had recently done a survey in Nairobi, Kenya on the feasibility of setting up a cable manufacturing plant.

“The feasibility study had indicated favourable financial outcomes and a formal project report have been approved by the Board of Directors for implementation in forthcoming months.”  The filing further said   that the Kenyan economy is expected to grow by six percent in 2015 and infrastructure would be a significant contributor to that growth. Electricity and transmission projects have recently risen on the past years prompting investors to tap into the demand. This will not only provide job opportunities but also improve the region’s economy.

 

Leave a Reply