A steel plant will be built in Uganda with investments of $500 million

At the end of November, the presidents of Uganda and Kenya, Yoweri Museveni and William Ruto, took part in the groundbreaking ceremony for the construction of the Devki Mega Steel plant in the town of Kayoro, Osukru County, Tororo District. Investments in the project amount to $500 million, according to ChimpReports.

The new vertically integrated steel production complex, which is being implemented by Kenyan industrialist Dr. Narande Raval of the Devki Group, will initially provide 15,000 jobs for Ugandans in Tororo and Mbarara. Most of the jobs will be related to the plant’s operations and related industries, including a future iron ore processing plant in Kabala.

President Museveni emphasized the historic significance of the project for Africa, noting that the continent has been losing resources for centuries due to colonial systems and the modern economy, which exports raw materials without added value.

“Today, we are taking a step towards liberating Africa by stopping the export of minerals and jobs,” he said.

Museveni also thanked Ruto for supporting the investor and called for the localisation of steel sheet and intermediate product manufacturing to retain added value in the country. He said that Raval’s next major project in Kabala would create more than 16,000 new jobs.

President Ruto called the ceremony the beginning of a new phase of industrialization in Africa and the development of regional value chains, noting that the plant will contribute to youth employment, the development of supply chains, and the self-sufficiency of East Africa.

“Industrialization is the only path to prosperity. Importing steel is importing poverty,” Raval emphasized.

Government officials, including First Deputy Prime Minister Rebecca Kadaga and Energy Minister Ruth Nankarira, called the Devki Mega Steel project a milestone for the industrial development of Uganda and the region, emphasizing the importance of social and economic benefits for communities.

As a reminder, steel production in Africa in January-October 2025 increased by 3.8% compared to the same period in 2024, to 19.3 million tons. In October, the figure rose by 0.8% y/y, to 2 million tons.