Sierra Cables PLC to develop manufacturing factory in Kenya
Sierra Cables PLC is set to construct a cable manufacturing factory in Kenya to cater for increasing power generation projects in East Africa.
The Sri Lankan company announced that it will partner with a Kenyan strategic partner to construct the cable manufacturing factory in Nairobi after completing a feasibility study.
The entry of the cable manufacturing firm into the Kenyan market is likely to spark cutthroat competition for the Nairobi Securities Exchange-listed East African Cables.
“The feasibility study has indicated favorable financial outcomes and a formal project report has been approved by the board of directors for implementation in the forthcoming months,” Sierra Cables said in a filing to the Colombo bourse.
The cost and timelines of the projects have not been released yet.