Narendra Raval Fertilizer Business: Billionaire businessman Narendra Raval has pumped Sh. 1.8 billion into a fertilizer plant his firm acquired in the buyout of ARM Cement. This investment is now set to increase the plant’s production capacity by three times to 300,000 metric tonnes of fertilizer annually.
“The total cost of investment in this project is Sh. 1.8 billion. The money will go into buying new machinery and upgrading the plant to new standards,” the tycoon told a local media house.
The fertilizer plant was a branch of the ARM Cement which was sold out to Raval about two years ago. “
“Maisha Mineral Fertiliser will be a processor and supplier of a wide range of fertilisers such as Mavuno Planting, Mavuno vegetables and Mavuno top dressing. The granulated fertilisers are of various grade of blended nitrogen, phosphorous and potassium depending on the crop requirements. The plant, set to become fully operational in the next two months,” a report on the investment that appeared in the newspaper Business Daily said.
“We have been constructing the new plant for the last one year. We expect to open in the next two months. By then, the plant should be 100 per cent operational,” he added. Mr. Raval is currently in the race to takeover the moribund miller Mumias Sugar Company in a lease that could see him invest up to Sh. 5 billion in the ailing factory.