For Sale -Billionaire Narenda Raval is fighting hard to take over the collapsed Mumias Sugar factory with a promise to revitalize it.
In his recent media briefing, the steel billionaire said he believes he has what it take to revive the plant that once was the pride of Western Kenya.
“God has given me enough, let me bail out Mumias,” he was quoted recently by The Standard newspaper.
In his statement, the billionaire has offered a mouthwatering package in a lease bid that could bring back to life the giant miller.
A local daily on Monday reported that Mr. Raval unveiled a multi-billion shilling package which will see a whopping sh 4 billion used to upgrade the plant as sh 1 billion put into farming activities so as to motivate farmers back to doing sugar cane.
Other publications detailed that the bid is part of the lease program which may see the successful bidder take over the full factory operations through paying the Kenya Commercial Bank KCB a monthly fee for the next fifteen years.
