Leading Kenyan industrialist Narendra Raval’s multi-product steel manufacturing corporation, Devki Group, is witnessing an unprecedented surge in demand for its steel products within its operating subsidiary.
To address this growing market demand, Devki Steel Mills in Samburu, Kwale County, is ramping up its operations to achieve 100-percent capacity within the next three months. The surge in orders from Tanzania and Uganda has prompted the company to expedite its production process.
Raval, the chairman of Devki Group, attributed the surge in orders to the company’s competitive pricing and innovative production methods.
Since opening its doors in November last year, Devki Steel Mills has been operating at 60 percent capacity due to domestic orders.
The influx of new orders from neighboring countries has prompted the company to accelerate its production process and operate at full capacity by October this year.
Raval emphasized that the company’s utilization of new technology, including the conversion of heat into electricity, has enabled the production of low-cost steel products.
By leveraging locally sourced iron ore, Devki Steel Mills has become the first virgin steel production plant in the region. The implementation of this technology has allowed the company to offer cost-effective solutions without compromising on quality.
In an innovative approach to address rising electricity costs, Devki Group has taken the initiative to generate its own power. By harnessing the heat released from their kilns, the plant has successfully produced an impressive 55 megawatts of clean energy.
This self-sufficiency has significantly reduced expenses while maintaining an operational capacity of approximately 80 percent.
Devki Group’s steel production unit in Kwale County, which opened in November 2022, has already made substantial contributions to the local economy.
With a production capacity of 500,000 metric tonnes, the mill has created jobs, with 60 percent being direct employment opportunities.
The company’s rapidly expanding presence has aided Kenya in reducing its dependence on imported industrial steel products, such as billets, wire rods, and TMT bars, thereby strengthening the country’s self-sufficiency in this sector.
Raval, the driving force behind Devki Group, founded the company in 1986 as a small steel-processing and trade business. Today, it has evolved into East and Central Africa’s largest building material and steel product manufacturer.
Raval, estimated to have a net worth of $400 million in 2015, remains the majority shareholder of the privately held manufacturing conglomerate.
