Devki Group out of Mumias Sugar leasing bid, urges farmers inclusion – KBC

Devki Group of Companies has withdrawn from a leasing bid that would have resulted to the firm taking over troubled Mumias Sugar.

According to Devki Group of Companies Chairman Dr Narendra Raval the multi-billion steel firm with its deep understanding of the local operations had expressed interest in reviving the sugar miller currently in receivership following an invitation by the Receiver Manager

“Given the ongoing public interest which the matter has attracted and the call for publicly run bidding exercise, we have found it worthwhile to take out our application. We will however express interest, should the exercise be conducted in consultation with all the stakeholders,” said Dr Raval.

Devki Group has further called for inclusion of farmers and local communities in the plans by the receiver manager to turnaround the once successful sugar miller.

“We wish the receiver manager success as they seek the most appropriate method of revival/or partner to take Mumias to the next level,” he added.

Mumias Sugar was placed under receivership in 2019 by KCB Group in a bid to keep the loss-making firm running and secure the assets.