USD 125 million steel plant commissioned
Roofings Group has commissioned its Cold Rolling Mill Complex Phase IV facility at Uganda’s Namanve Industrial Park.
With an investment value of approximately USD 125 million (UGX 466 billion), the facility includes cold rolling, slitting, galvanizing and colour coating lines. Roofings Group management said the investment represents the company’s largest expansion in its more than 30-year history.
Uganda aims to leverage its iron ore resources
The new investment comes alongside efforts to process more of Uganda’s iron ore resources domestically and convert them into higher value-added steel products.
Uganda’s Minister of Energy and Mineral Development, Dr. Monica Musenero, instructed the Uganda Investment Authority (UIA) to identify suitable and sufficiently large land for Roofings to establish a plant capable of converting iron ore into high-quality finished products.
Roofings CEO Arif Sheikh said the company obtained an iron ore exploration licence approximately one and a half months ago and is exploring for iron ore in a specific area of the Mukono region.
Plans underway to move from iron ore to finished products
Roofings’ new investment is not limited to expanding its flat steel production infrastructure, as the company is also working to utilize Uganda’s iron ore resources to produce high-quality finished steel products.
Minister Musenero said the land identification process has been initiated to enable Roofings to establish a facility that will process iron ore into high-quality finished products.
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