Kampala — Uganda has launched a third cement factory a step towards the liberalization of the sector that has been majorly ruled by two cement factories.
The new factory owned by DAO group was set up in Budaka district eastern Uganda. It will produce 750 metric tons per day. It will increase to 2500 metric tons in the medium term and 5000 in the long term.
Locals in the area expect their lives to drastically change, as they have great hope to acquire jobs and to sell some of their agricultural products to the factory workers.
The cement factory under DAO group of companies has branches in Kuwait. It is expected to offer 10,000 jobs to the youth in the area.
"It will improve our future as we shall get jobs," said Peter Kulyangha a youth and resident of Budaka.
Uganda's president Yoweri Museveni, who commissioned the new factory, lauded the investors for putting their trust in Uganda.
He said cement industries have transformed the economy especially in the areas where they are located.
"Cement factories have helped us reduce poverty in areas like Kasese and Tororo," he said.
DAO Africa Finance and Administration Manager Hussein Jingo said their total investment in the factory is $150million.