MINI-CEMENT PLANT CONSTRUCTION STALL DUE TO POLITICAL TENSION

Karsan Ramji and Sons company suspends construction of its US $4m mini-cement plant due to the country political tension.

Kenya election is currently making wave around the continent of Africa for the wrong reason and it has gradual starting to affect the construction industry and different sectors in the country.

Due to Political tension in the country, Karsan Ramji and Sons which is a cement-based company in Athi River just outside of Nairobi has decided to stop the construction of its US $4m mini-cement plant in the area until the conclusion of the presidential election.

Karsan Ramji and Sons, Managing Director, Kishon Varsani; ”Everything is on hold at the moment due to lack of proper working days and too many holidays.”

Kenya Private Sector Alliance (Kepsa) also share the same sentiments with the organisation because investments worth US$ 963m had been deferred pending return to normalcy.

According to Kepsa; ”The Nairobi Securities Exchange market capitalization lost approximately US$ 2.3bn with foreign investors shipping out US$ 144m while loss of opportunities for local firms amounted to US$ 2.4bn and investments worth US$ 963m were on hold.”