National Cement Company Limited

National Cement Company Limited (NCCL), also National Cement Company Kenya Limited, is a cement manufacturer in Kenya. It is a subsidiary of the Devki Group of Companies, an industrial and manufacturing conglomerate, with headquarters in Kenya and operating subsidiaries in Kenya and Uganda.[1]

National Cement Kenya Limited
TypePrivate
IndustryManufacturer and distributor of cement
Founded2008 (2008)
HeadquartersNairobi-Mombasa Road, Athi River, Kenya
Key people
Narendra Raval
Group Chairman
ProductsCement
Number of employees
~1,200 (2019)
WebsiteHomepage

Location

The main factories of NCCL are located off of the Nairobi-Mombasa Road, in the town of Athi River, Machakos County. This is approximately 39 kilometres (24 mi), by road, south-east of Nairobi, the capital city of Kenya.[2] The coordinates of the main factory are 1°29'31.0"S, 37°03'26.0"E (Latitude:-1.491944; Longitude:37.057222).[3]

Overview

National Cement Company Limited was established in 2008 and began cement production in 2010.[4]

As of April 2018, NCCL was the largest indigenous cement manufacturer in Kenya, with several plants in the country.[1] It owns 100 percent of Simba Cement Uganda Limited, a cement factory in the Ugandan town of Tororo, with installed manufacturing capacity of one million metric tonnes annually.[5][6]

Ownership

The company ownership is as illustrated in the table below:[1][7]

National Cement Stock Ownership
RankName of OwnerPercentage Ownership
1Devki Group owned by Narendra Raval and Family85.0
2International Finance Corporation (IFC)7.5
3IFC Subsidiary Company7.5
Total100.0

Recent developments

In May 2019, NCCL signed a binding all-cash offer of US$50 million to acquire the Kenyan assets and all subsidiaries of ARM Cement Plc. (In Receivership), as a going concern. The offer requires regulatory approval in Kenya.[8]

The ARM acquisition will be funded with US$25 million in internally generated cash and loans from the International Finance Corporation and Kenya Commercial Bank Group. With the new acquisition NCCL will have production capacity of 1,400,000 metric tonnes annually, accounting for 13 percent of total national production.[9]

See also

References
  1. Mfonobong Nsehe (5 April 2018). "Kenyan Tycoon Narendra Raval Raises $97 Million For Cement Plant Expansion". Forbes.com. Retrieved 21 May 2019.
  2. Globefeed.com (21 May 2019). "Distance between Nairobi, Kenya and National Cement Company Limited, Athi River, Kenya". Globefeed.com. Retrieved 21 May 2019.
  3. Google (21 May 2019). "Location of the Main Factory of National Cement Company Kenya Limited" (Map). Google Maps. Google. Retrieved 21 May 2019.
  4. Devki Group (2018). "About National Cement Company Limited". Nairobi: Devki Group Kenya. Retrieved 21 May 2019.
  5. Mark Keith Muhumuza (20 January 2017). "Cement companies rush to set up new plants in Tororo". Daily Monitor. Kampala. Retrieved 21 May 2019.
  6. Mutegi, Mugambi (13 April 2015). "National Cement to build Sh18.5bn plant in Uganda". Business Daily Africa. Nairobi. Retrieved 21 May 2019.
  7. Juma, Victor (4 April 2018). "IFC Commits KSh9.7 Billion In National Cement Expansion". Daily Nation. Nairobi. Retrieved 21 May 2019.
  8. Munda, Constant (21 May 2019). "Devki's National Cement in deal to acquire troubled ARM's assets for Sh5 billion". Business Daily Africa. Nairobi. Retrieved 2 May 2019.
  9. Victor Juma (22 May 2019). "National Cement secures IFC debt for ARM deal". Business Daily Africa. Nairobi. Retrieved 22 May 2019.

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.