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Steel and Tube Industries financed for the purchase of scrap to feed their newly installed hot roll mill in Namanve

posted 3 May 2017, 05:42 by David Tamale   [ updated 3 May 2017, 12:25 ]

Steel and Tube Industries Ltd is one of the leading locally owned leading manufacturer of Construction Steel products in the East Africa region.

The company is based in Uganda with an export market that stretches to Rwanda, Congo, Sudan, Kenya and Burundi. The bank has financed the company for the purchase of scrap to feed their newly installed hot roll mill in Namanve. The company is said to employ directly and indirectly a total of 6,600 individuals.

Their export component accounting for 35% of their total sales is a boost to the country’s BOP position. Steel products are needed to meet the increase in construction and high quality infrastructure needed to match the growing Ugandan population. Tax revenue from importation of raw materials needed for the cold roll mill can is being redistributed to other sectors.
http://www.udbl.co.ug/news-events