Sierra Cables to set up manufacturing plant in Africa

23 September 2015 03:02 am - 0 - {{hitsCtrl.values.hits}}

A A A

Listed power cable manufacturer, Sierra Cables, yesterday announced plans on expanding its reach by venturing into the African region.

In a filing to the Colombo Stock Exchange (CSE) the company stated it was gearing to up establish a cable manufacturing plant to supply transmission and distribution cables to East African countries.

Sierra Cables makes this move after having recently conducted a survey in Nairobi, Kenya in this regard. “The feasibility study has indicated favourable financial outcomes and a formal project report have now been approved by the board of directors of the company for implementation in the forthcoming months,” the statement read.

Acknowledging that the Kenyan economy is expected to grow by 6 percent end 2015, and the infrastructure development will be a significant contributor in reaching that goal, Sierra Cables expressed keenness in taking part in that growth wave by securing a position in the Kenyan Manufacturing sector.

The company noted that the returns would depend on the facility construction time, initial trial production and the establishment of the marketing processes.
While Sierra Cable is not the first Lankan entity to set foot to Africa, many mini hydro companies have already venture as a number of countries in that region have expressed keenness in entering into MoUs with Sri Lanka for mutual corporation in the power and energy space.

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Comments - 0

Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Sierra Cables to set up manufacturing plant in Africa

Comments - 0

Add comment

RECOMMENDED

UDA owned land in Thalawathugoda; UDA Minister Prasanna Ranatunga under the spotlight for forceful occupation of reserved land

Loss-making SMIB faces political pressure in recovering loans

Baltimore Bridge Collapse: MV Dali, SL authorities anchored in mystery?

Has Sri Lanka become a potential hub for the illegal wildlife trade?

Spotlight on Moragahakanda Development Project Moragolla villagers lose livelihoods and down to one meal a day

Ambitious Sri Lankan jobseekers ‘trafficked into Ukraine war zones’

Western purple-faced langurs see blue!

Most Viewed in News

Sri Lankan among NASA’s new crew for next simulated Mars journey

New Visa procedure implemented

A US “Kaputa”, a Lankan “Nariya” and a Presidential “Feast”

Confusion remains if April 15 is a bank holiday

23 year old youth ends up having his testicles removed

Belgian traveller scammed in Kalutara

MIRROR CRICKET

Chamari Athapaththu sets big goal for T20 World Cup

How does CSK get best out of Pathirana?

Mendis, Mathews move up in ICC Test Rankings

Chamodi, Dewmi spins Sri Lanka U19 Women to big win

TODAY'S HEADLINES

Debt Restructuring Talks: Bondholders Fear Regime Change Impact

Don’t be deceived by NPP and Cardinal Ranjith: UNP

Emirates halts check-in for connections, UL cancels flights to Dubai

Plans afoot to obtain “Blue Flag Beaches” certification for SL beaches

Hardik fined Rs 12 lakh for violating IPL code of conduct after win over Punjab Kings

Chamari Athapaththu sets big goal for T20 World Cup

How does CSK get best out of Pathirana?

Mendis, Mathews move up in ICC Test Rankings