Company News
Indian Firm Eyes Kenya’s Construction Industry Billions
The company will target ‘small and medium construction projects’.
Pidilite Industries Ltd., India’s largest construction chemical manufacturer, is expanding to Kenya, aiming to tap into the country’s booming construction sector.
Pidilite President of Sales for Africa Shankha Banerjee said on Tuesday that the Mumbai-based firm was marketing its range of adhesives to establish a regional presence.
“We want to serve the growing demand for waterproof technology in Kenya and the rest of East Africa,” Banerjee said.
Mr Banerjee said the company will target small and medium construction projects.
The Fevicol, Dr. Fixit, Acron, and Cyclo are some of Pidilite’s most famous brands. The firm also manufactures Fevi Kwik – India’s first ever One Drop Instant Adhesive.
Pidilite Industries, one of Asia’s largest construction chemical firms, has appointed Crown Classic Industries, a local distributor of waterproofing products, as the sole distributor and marketer of its products in Kenya.
Pidilite has a presence in Ghana, South Africa, and Egypt. The company joins other global firms that have announced plans to invest in the Kenyan construction market.
In October 2013, South Korean steel roof tile maker Feroof announced plans to establish a roofing tile plant in Kenya to cash in on the growing demand for steel roofing tiles in the country.
RELATED: Korean Firm FEROOF to Open Roof Tile Plant in Kenya
Stanlib, a subsidiary of South Africa Liberty Group, had earlier said it was planning to invest Sh5.2 billion in construction of a maximum of two shopping malls in Nairobi within the next two years.
Stanlib’s compatriot Sanlam announced in June that it would invest Sh5.5 billion in the Kenyan real estate sector through the US$1 billion Sanlam Africa Core Real Estate Fund that was launched in May on the Mauritius Stock Exchange.
The Kenyan construction industry is expected to enjoy exponential growth over the next decade mainly due to a swelling population and government’s spending on major infrastructure projects around the country.
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