Devki Group of Companies Chairman Dr Narendra Raval says he is willing to return to the Mumias Sugar (In Receivership) leasing bid from July 1st 2021 only if various stakeholders are involved in the deal.
Earlier on Friday, Dr Raval announced that the firm has withdrawn from the leasing bid that would have resulted to the firm taking over the troubled millers in a deal worth Kshs. 5 billion.
“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.
The steel tycoon has now indicated that the deal is likely to be reached with the Receiver Manger only if farmers and local communities are involved in the transaction.
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“Unless all stakeholders come together and the receiver too, I have no problem to sit with them and make a plan to have a way forward on how to start the form in 30 days,” he said.
Dr Raval said the multi-billion steel firm had expressed interest in reviving the sugar miller currently in receivership following an invitation by the Receiver Manager.
“I bid for Mumias with a good intention of reviving it and improving the livelihood of the farmers and the local community. If the farmers, the leaders and the receiver want me, I am willing to start it by July 1,” he said.
Dr Raval who spoke to KBC Digital at his Ruiru office on Friday said that he had planned to lease Mumias Sugar Company for 20 years.
The renown industrialist noted with concern that over 22 million people in the western region depend on the firm, either directly or indirectly.
He however noted that the region’s politics will determine if he continues with his mover to run the firm saying that dirty politics will keep him away.
“Politics will be there. If it’s healthy politics I have no problem but if it’s dirty politics I’ll keep off because we are business people and not politicians,” he said.
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.
