Sri Lanka's Sierra Cables to build plant in Kenya
Sri Lanka based Sierra Cables plans to set up a manufacturing plant in Kenya targeting East Africa’s power generation projects.
According to a filing sent to the Colombo Stock Exchange dated September 21, 2015, the firm had recently done a survey in Nairobi on the feasibility of setting up a cable manufacturing plant.
“Results from the feasibility study indicated favourable financial outcomes and a formal project report had been approved by the Board of Directors for implementation in the forthcoming months,” Sierra’s report reads in part.
Currently, Kenya has a 40 per cent local content requirement on low voltage cables for public contract which may have informed Sierra’s decision.
The company makes cables for use in transmission of electricity and domestic electrical wiring, as well as telecommunications.