President Yoweri Museveni and Kenyan President William Ruto on Saturday presided over the groundbreaking ceremony of the USD 500 million Devki Mega Steel Plant in Tororo, calling it a historic milestone in East Africa’s push for industrialisation and economic self-reliance.

The factory, spearheaded by industrialist Dr. Narendra Raval, is expected to employ more than 15,000 Ugandans and position Uganda as a major supplier of steel to the East African region.

President Museveni said the project marks a decisive step in Africa’s long struggle to reclaim value lost through slavery, colonialism, and the export of raw materials. “For over 500 years, we have been losing value through slavery, colonialism, and the export of raw materials,” he said. “With this integrated steel operation, we move closer to ending that haemorrhage of our minerals, our jobs, and our foreign exchange.”

He thanked President Ruto for encouraging Dr. Raval to establish the plant in Uganda, noting that the country is naturally endowed with key raw materials and that regional integration is essential for shared prosperity. “Uganda is a natural source of raw materials, and East Africa must grow together,” Museveni said.

The President congratulated Dr. Raval—commonly known as ‘Guru’—for committing to full value addition and for his upcoming iron ore project in Kabale, which he said will create even more employment opportunities and strengthen Uganda’s industrial base.

Museveni cautioned local communities against delaying investments over compensation disputes, assuring that government will handle all related matters to ensure smooth progress of strategic projects. He further noted that Uganda loses an estimated USD 5 billion annually to imports and stressed that ventures like the Devki Steel Plant will significantly reduce this burden.

The President also said the planned Standard Gauge Railway (SGR) will be instrumental in supporting large-scale industrial ventures and further reducing production and transport costs.

“With these developments, I can say the future is bright and even more investments will follow,” Museveni noted.

The Devki Mega Steel Plant, sitting on over 400 acres, is expected to supply steel products to Uganda, Kenya, and the wider East African region, reducing import dependence and strengthening regional value chains.