We're Out, Devki Group Ditches Mumias Sugar Revival Bid!

Devki Group has withdrawn it's interest from reviving Mumias Sugar Company due to political reasons.

We're Out, Devki Group Ditches Mumias Sugar Revival Bid!
Source: Google

The group was expected to take over the company under lease on behalf KCB Group only for the miller to default the Sh545 loan.

This comes barely a week after leaders from the Western region voiced their concerns and called for directions on the bidding process.

Steel tycoon Narendra Raval who chairs the Devki Group had shown all interest in reviving the company with a budget of Sh5 billion and hopes they are included in consultation.

“However, 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,” Raval said in a statement.