- Steel billionaire Narendra Raval builds own power plant
- Kenya Power lost the opportunity to supply electricity to the mine
Narendra Raval, a steel billionaire in Kenya, has revealed that he built his own power plant to supply his clinker factories in Emali, Kenya. He stated that he decided to build the power plant when he was presented with a connection bill of KSH 2.8 billion by state-owned power company Kenya Power.
“I now produce 28 megawatts of power, and I plan to generate my own power in all my other factories to ensure that we are self-reliant,” Mr Raval said
“Kenya Power now loses revenues of about Sh200 million a month because of that decision,” he says, adding that the current high cost of buying power from the utility company makes locally produced goods ”uncompetitive in the global market.
Devki Group, one of the biggest cement and steel producers in East Africa, made the decision to start manufacturing power from waste and coal for its factories which will cost Kenya Power KSH200 million monthly in lost revenues.