Business & MarketsEnergy, Oil & GasThe Big Story

Hima Cement investor, Sarrai Group takes over Kilembe Mines with UGX 46 billion in accumulated losses 

Energy and Minerals Minister Ruth Nankabirwa (in blue) flanked by State Minister for Minerals Phiona Nyamutoro, State Minister for Investment Evelyn Anite (second right), Energy Ministry Permanent Secretary Irene Batebe (far left) and Sarrai Group representative (far right) among other officials during the signing of the mineral production sharing agreement on March 3rd in Kampala.

Hima Cement investor, Sarrai Group is set to take over and re-develop Kilembe Mines based in Kasese District after signing a new agreement with the government.  Hima Cement which is also based in Kasese District was acquired by Sarrai Group last year at a transaction value of USD 120 million. The investor signed a mineral production sharing agreement on March 3rd with Energy Minister Ruth Nankabirwa, and Finance Minister Matia Kasaija representing government as signatories.  Sarrai Group Ltd and Nile Fibreboard Ltd emerged as the best bidders out of the 14 firms that expressed interest.  According to Minister Nankabirwa, this…

This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!

Tagged:
About the Author

Paul Murungi is a Ugandan Business Journalist with extensive financial journalism training from institutions in South Africa, London (UK), Ghana, Tanzania, and Uganda. His coverage focuses on groundbreaking stories across the East African region with a focus on ICT, Energy, Oil and Gas, Mining, Companies, Capital and Financial markets, and the General Economy.

His body of work has contributed to policy change in private and public companies.

Paul has so far won five continental awards at the Sanlam Group Awards for Excellence in Financial Journalism in Johannesburg, South Africa, and several Uganda national journalism awards for his articles on business and technology at the ACME Awards.

beylikdüzü escort beylikdüzü escort