East African Cables (EAC) has serviced the first batch of an order made by Kenya Power for a consignment of electrical cables and conductors worth Sh232 million.
East African Cables Chief Executive Officer Paul Muigai has lauded Kenya Power for its growing support for local manufacturers to boost its electrical power distribution lines.
Muigai said the power distributor’s availing of tender opportunities to local manufacturers supported the government’s Bottom-Up Economic Transformation Agenda (BETA).
The listed local electrical cables and conductor manufacturer’s CEO noted that the sustained placing of orders with local manufacturers will play a key role in growing the local economy.
“As we flag off the first batch, East African Cables celebrates the continued support by Kenya Power to local manufacturers, which is a boost for the national industrialization and economic transformation efforts,” said Muigai.
He revealed that the embattled company would service the multi-million-shilling order placed by Kenya Power in several batches that will run through to the end of the year.
“The order placed by Kenya Power for medium voltage cables will be delivered under a flexible framework supply model,” he announced.
On June 23, 2023, East African Cables obtained a court order stopping the appointment of an administrator to the company, in a notice issued by Equity Group dated June 16, 2023.
Equity had placed TransCentury and its subsidiary East African Cables under receivership over Sh2.8 billion and Sh1.948 billion debts owed by the two embattled firms respectively.