RUBANDA: The construction of an Iron Ore Smelting plant on 420 Acres of Land in Rugaramiro Village, Muko Sub County in Rubanda district is anticipated to cost 1.5 Billion dollars.
This has been revealed by Engineer Adams Kyeyune, Director of Steam Investments Company, a company that has been contracted to construct an Iron Ore smelting plant in the district while assessing the nature of the Mines and land where the factory is set to be built together with the Rubanda West County Member of Parliament, Hon Moses Kamuntu Mwongyera who is the Director of Kamuntu Iron Ore Investment Limited Company.
According to Engineer Kyeyune, once the factory is constructed, it will be producing 5000 tons of steel per day.
Kyeyune says that documentation is at 90 percent and he hopes to start construction works in July. He however said that the factory will require 350 Megawatts of Electricity daily to run machines.
He is optimistic that the factory will employ 40,000 direct and indirect employees.
Hon Moses Kamuntu Mwongyera says that he is hopeful the factory will benefit communities in Rubanda district and the neighboring districts. He implored locals to be cooperative and welcome the factory if they are to benefit from it.
The Rubanda district LC5 Chairman, Steven Ampeire Kasyaba emphasized the need for the factory to benefit the district in terms of Local revenue and residents both indirect and direct such that they get employed.
Not only building the factory, but Stream Investment Company has also pledged to build schools, hospitals, new police buildings and a new Rukiiko hall for Rubanda district as a way of developing the area.
