National Cement raises $97M for cement plant expansion

National Cement, a subsidiary of Devki Group, raised $97 million from the International Finance Corporation and will invest an additional $100 million from its chairman to construct two grinding plants in Uganda and Kenya and one clinker line. The total expansion cost is close to $200 million.

“Kenyan multi-millionaire businessman Narendra Raval has raised $97 million in the form of debt and equity from the International Finance Corporation to fund the construction of new cement plants for his company, National Cement.”forbes.com

• 1 source
• forbes.comKenyan Tycoon Narendra Raval Raises $97 Million For Cement Plant ExpansionMfonobong NseheApr 5, 2018

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