Overview:
President Yoweri Museveni commissions a new Direct Reduced Iron (DRI) plant at Tembo Steels, boosting the country's industrialization journey and economic growth
KAMPALA, Uganda — President Yoweri Kaguta Museveni commissioned a new Direct Reduced Iron (DRI) plant at Tembo Steels in Iganga District, marking a significant milestone in Uganda’s industrialization journey.
The plant, located in Kasolo Village, Bulamagi Sub-County, solidifies Tembo Steels’ position as a major player in Uganda’s steel industry. Established in 2004, the company has grown into a prominent manufacturing hub, producing steel, oxygen cylinders, and nitrogen using locally sourced raw materials.
President Museveni praised Tembo Industries’ chairman for the company’s transformative impact on Uganda’s economy, emphasizing the importance of locally integrated industries in saving the country from “hemorrhage of resources.” He also highlighted Uganda’s rich iron ore reserves, particularly in Kabale, as a vital resource for the steel industry.
Museveni reiterated the government’s commitment to providing affordable electricity for manufacturers, aiming for a rate of 5 cents per unit to boost industrial productivity and competitiveness.
Third Deputy Prime Minister Hon. Lukia Nakadama expressed gratitude to President Museveni for prioritizing development in the Busoga sub-region, citing the new plant as a beacon of hope for economic growth in the area.
Tembo Steels General Manager Mr. Manish hailed the launch as a significant achievement, representing the company’s commitment to growing Uganda’s economy and anticipating a substantial boost to the country’s industrial output.
The event was attended by high-profile figures, including government ministers, members of parliament, religious leaders, investors, and local officials.