# 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.

- Type: Expansion
- Announced: 2018-04-05
- Where: Kenya and Uganda, Kenya
- Value: $97.0M
- Status: announced
- Products: cement
- Sectors: [Construction Materials](https://endata.com/sectors/construction-materials.md)

## Companies

- [National Cement](https://endata.com/companies/31162.md)
- [International Finance Corporation](https://endata.com/companies/12849.md) (investor)
- [Devki Group](https://endata.com/companies/15152.md) (partner)

## Sources

- [forbes.com](https://www.forbes.com/sites/mfonobongnsehe/2018/04/05/kenyan-tycoon-narendra-raval-raises-97-million-for-cement-plant-expansion/), 2018-04-05: "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."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.