A US$500 million steel plant project, led by Kenya's Devki Steel, has officially commenced construction in Tororo, eastern Uganda. Ugandan President Yoweri Museveni and Kenyan President William Ruto jointly attended the groundbreaking ceremony, symbolizing significant progress in East African industrial cooperation.

The new steel plant, with a planned annual capacity of 1 million tons, will utilize blast furnace steelmaking technology and is expected to significantly reduce Uganda's annual steel import dependence of over US$840 million, potentially making it a net steel exporter in the future. 

The project is projected to create approximately 15,000 direct jobs, increasing to 20,000 at full capacity, and is seen as a crucial engine for driving regional supply chains and improving the local workforce.

Uganda's abundant iron ore resources are a key advantage that facilitated this investment. Ugandan President Museveni stated that the steel plant will reduce the outflow of raw materials, laying the foundation for East Africa's industrial self-sufficiency; while Kenyan President Ruto emphasized that the project will strengthen the regional supply chain and support rapidly growing future steel demand.