“With this new mabati plant expansion, 700 more jobs will be created and that will add to our recently acquired KSh5 billion (US$50m) ARM Cement deal that came with an additional 1,100 employees.
The upcoming steelmaking factory in Kwale will employ 2,100 people upon completion within the next two years,” he said.
According to regulatory filings, Mr Raval is seeking approval for the planned factory, which the National Environment Management Authority has given the public 30 days to file submissions on the project.
Mr Raval has been on an expansion spree in the last two years with two new factories under construction in Njoro, Nakuru and Mariakani in Mombasa.
In 2015, the Devki Group raked in KSh65.8 billion (US$658m) in annual revenue with its owner described by Forbes magazine as among Africa’s tycoons with a net worth of KSh40 billion (US$400m).
Mr Raval is also erecting a second 1.8 million metric tonnes per annum clinker line in Kajiado where construction started this year and is to be commissioned by 2020.
He is setting up another 0.75 million metric tonnes cement plant in Kilifi while the 0.88 million metric tonnes in Athi River is still underway set to be commissioned in mid-2020.
He recently acquired Athi River Mining (ARM) Cement, a struggling Nairobi-based cement company, for US$50 million. The transaction positioned his company as the leading cement manufacturer in the region.