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Wednesday, 23 September 2015 01:22 - - {{hitsCtrl.values.hits}}
Sierra Cables (SIRA) announced that it has decided to set up a manufacturing plant in Nairobi, Kenya to supply transmission and distribution cables to East African countries.
In a filing to the CSE, the company said that it carried out a recent survey in Nairobi, Kenya on the feasibility of a cable manufacturing plant to supply transmission and distribution cables to East African countries.
The feasibility study had indicated favourable financial outcomes and a formal project report has now been approved by the Board for implementation in the forthcoming months.
The Kenyan economy is expected to grow by 6% in 2015 and a significant contributor would be the infrastructure development. Sierra Cables could take part in this growth wave by establishing its place ion Kenyan manufacturing sector.
“The returns would depend on the time considering the facility construction time, initial trial production and the establishment of the marketing process,” Sierra Cables said.
