ARM Cement is banking on the $140 million (Sh14 billion) capital injection from a British government-owned fund CDC Group to finance the setting up of a new clinker and cement plant in Kitui County.
The Nairobi bourse listed firm said the expected financial backing from the development finance institution would jumpstart work on the integrated cement factory which has been on the cards since 2014 and is estimated to cost $300 million (Sh30 billion).
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