Sierra Cables PLC is set to construct a cable manufacturing factory in Kenya in a bid to cater for increasing power generation projects in East Africa.
The Sri Lankan company announced that it will partner with a Kenyan strategic partner to construct the cable manufacturing factory in Kenya.
Sierra Cables PLC settled on this construction project after completing a feasibility study on developing a cable manufacturing plant in Nairobi. The entry of the cable manufacturing firm into the Kenyan market is likely to spark cutthroat competition for the Nairobi Securities Exchange-listed East African Cables.
Sierra Cables is currently targeting this region because of the electricity generation and transmission projects that are picking up and the booming housing industry which has created a ready market for its industrial wire and cables.
“The feasibility study has indicated favorable financial outcomes and a formal project report has been approved by the board of directors for implementation in the forthcoming months,” Sierra Cables said in a filing to the Colombo bourse.
The cost and timelines of the projects have not been released yet.
Sierra Cables PLC located in Sri Lanka makes cables for use in transmission of electricity and domestic electrical wiring. They also manufacture telecommunications cables and are an ISO 9001 certified organization.
