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Uganda: UCL Plans to Invest in Rwanda
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New Vision (Kampala)
2 July 2008
Posted to the web 3 July 2008
Kampala
UGANDA Clays (UCL) is to invest in Rwanda, John Wafula, the chief executive officer, has said.
"During the second half of the year and the early part of next year, we expect not only to commission the Kamonkoli factory in eastern Uganda, but also finalise arrangements to acquire a competitors' business in Uganda," Wafula told a press conference.
"Both plans are contingent upon completing the due diligence and agreeing on price terms as we intend to invest in them on a going-concern basis."
He said they would also send the first consignment of products to Sudan next week where they had opened a sales office.
Wafula said prospects in Sudan were bright and they had recruited employees from there.
There is a construction boom in Sudan after the end of the 21-year civil war, which destroyed much of the infrastructure.
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Wafula said they were looking at all opportunities for expansion in the region.
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