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President Yoweri Kaguta Museveni today presided over the commissioning of a new Direct Reduced Iron (DRI) plant at Tembo Steels in Kasolo Village, Bulamagi Sub-County, Iganga District. The new facility marks a major milestone in Uganda’s industrialization journey, with Tembo Steels reaffirming its position as a key player in the country’s steel industry.
Established in 2004, Tembo Steels has grown into a major manufacturing hub, producing steel, oxygen cylinders, and nitrogen. The company sources its raw materials locally, significantly contributing to Uganda’s economy and creating over one million jobs for Ugandans.
During his remarks, President Museveni commended the Chairman of Tembo Industries for the transformative impact the company has had on Uganda’s economy. He emphasized the importance of locally integrated industries, stating that such initiatives save the country from the “hemorrhage of resources.” He further noted Uganda’s rich iron ore reserves, particularly in Kabale, as a vital resource for the steel industry.
“The government is committed to ensuring affordable electricity for manufacturers, targeting a rate of 5 cents per unit. This will boost industrial productivity and competitiveness,” President Museveni said.
Hon. Lukia Nakadama, the Third Deputy Prime Minister, expressed gratitude to President Museveni for prioritizing development in the Busoga sub-region. She highlighted the new plant as a beacon of hope for economic growth in the area.
Mr. Manish, the General Manager of Tembo Steels, hailed the launch of the second plant as a significant achievement. “This milestone represents our unwavering commitment to growing Uganda’s economy. With the addition of this plant, we anticipate a substantial boost to the country’s industrial output,” he said.
The event was attended by a number of high-profile figures, including government ministers, members of parliament, religious leaders, investors, and local officials.