Steel tycoon and fortune reader Narendra Raval, also known as Guru, has recently made headlines for his political and business maneuvers. After declaring that President William Ruto should serve for 25 years, Mr. Raval has secured an exclusive deal in Uganda to export iron ore worth KSh15 billion annually.
This deal will further solidify Mr. Raval’s dominance in the region’s cement and steel industries. Following a five-year freeze on iron ore exports from Uganda, Mr. Raval managed to secure an exclusive permit through a deal brokered by President Ruto.
The regulations issued by Uganda’s Minister of Energy and Mineral Development, Ruth Nankabirwa Ssentamu, have given Devki Group of Companies the sole right to export raw and semi-processed iron ore from the country. The deal, worth UGX430 Billion, will see Mr. Raval shipping one million tonnes of iron ore to Kenya annually.
Iron ore is a crucial input for cement and steel production, which are essential for the construction industry. The regulations specifically apply to Devki Steel Mills Limited, demanding State ownership in the firm to secure the exclusive deal.
Mr. Raval’s business empire, which includes steel and cement manufacturing, infrastructure, and aviation sectors, continues to expand rapidly. With recent acquisitions and new plant openings, Mr. Raval’s influence in the region’s industrial landscape is undeniable.
His strategic partnerships with political leaders like President Ruto and President Museveni have played a significant role in securing exclusive deals and expanding his business operations. As he continues to invest in new ventures, such as the virgin production of steel in Kenya, Mr. Raval’s influence in the region’s economy is expected to grow even further.
With his latest clinker plant opening in West Pokot and plans to become a major supplier to local cement manufacturers, Mr. Raval’s business acumen and political connections are propelling him to new heights of success in the industry.
