Page 8 - Devki Group News Today

The proposal to increase import duty on clinker, a raw material used in making cement, from 10 percent to 25 percent, will crush competitors outright.

Competition watchdog says Devki’s proposal to raise clinker import duty risks hurting rivals, raising prices of commodity.

Businessman Mwale places a Sh27.6bn bid with Rai family and steel tycoon Raval offering Sh8.4bn and Sh3.5bn, respectively.

Four firms say rival National Cement is trying to force government to increase import duty as Devki-owned firm announced it would lay off workers.

Clinker is mostly shipped in from overseas, hampering the country’s ambition to revamp its manufacturing sector.

THE STANDARD NATIONAL Naushad Merali grew up in Nairobi, where he attended Highway Secondary School. Little is known about his subsequent education. [File, Standard] Businessman Naushad Merali is dead. Merali, 70, died on Saturday morning, July 3, while undergoing treatment at the Nairobi Hospital. According to a statement by Shia Ithna Asheri Jamaat Secretariat, the billionaire died at 5am,  The cause of his death is yet to be communicated. KEEP READING Meralis burial is scheduled for toda...

The receiver manager told to re-advertise the bid for Mumias Sugar in the next two weeks

THE STANDARD Treasury  -  Sh167.8B  , Energy  -  Sh75.4B  ) Environment, water & sanitation   -  Sh7.4B  , KWS community scouts   -  Sh1.0B  , SPENDING BY SECTOR ; ( Transport  -  Sh53.5B  , Sports,culture and tourism  -  Sh18.1B  , Manufacturing & Industrialisation  -  Sh7.5B  ) Geothermal   -  Sh11.3B  , Mombasa Port Development Project   -  Sh7.5B  , LAPSSET  -  Sh4.5B  , Emergency locust response  -  Sh1.8B  , Digital land registries  -  Sh727.3M  , Coal...

Billionaire Rai family in Mumias Sugar lease race Thursday June 10 2021 By GERALD ANDAE The billionaire Rai family is among the eight high-profile investors eyeing a lease deal for the Sh15 billion assets of ailing Mumias Sugar Company, the miller’s receiver-manager has disclosed. The disclosure of Rai’s bid underlines months of the heated behind-the-scenes fight for the control of the once top miller by wealthy investors including steel tycoon Narendra Raval who has since withdrawn from th...

The Billionare Rai family is looking to widen its dominance of the sugar Industry as they reveal their interest in the Mumias Sugar Company.