The Nairobi Business Ventures (NBV) has announced plans to construct a cement plant in Machakos County. The Nairobi Securities Exchange-listed firm said feasibility study for the construction of the plant has been concluded and the preliminary work to establish the plant is currently being conducted.
The cement plant will sit on a 11.33 hectares of land intended to be bought by the firm and Sh15 billion will be invested towards the project ย The former shoe manufacturer announced plans in late 2020 to build a 1Mt/yr cement plant following its acquisition by UAE-based Delta International Holding. The project will run as a grinding unit first before moving to clinker production at a later stage. The company also plans to diversify into vehicle and aircraft maintenance.
Projects line up
The firm lined up Sh18 billion to diversify into cement manufacturing, vehicle and aircraft repairs to grow revenue following the buyout by Dubai-based Delta International FZE. The planned venture into new lines of business for a firm that started off as a shoe seller comes barely seven months after Delta International bought 84% stake at Sh83 million.
Delta is owned by Haresh Vrajlal Damodardas Soni and its local and regional subsidiaries include Delta Holdings Kenya (real estate), Shreeji Glass Uganda (chemical manufacturing) and Shreeji Chemicals Kenya.
NBV is also seeking to acquire 100% stake in Delta Automobile Limited, a heavy commercial vehicle maintenance firm with presence in Nairobi and Mombasa. The firm manages, repairs and maintains over 700 trucks mainly of Renault and Volvo brands.
