Oil prospecting company in Garissa County has discovered oil in Garrissa county. Vanoil Energy Company from Canada which has been prospecting for oil in Modogashe area of the Garissa has revealed that huge barrels of oil exist .According to company CEO the deposits will form the largest oil discovery in the country so far. The County now anticipates billions of shillings that could have emanated from oil proceeds.
Cement and Gypsum
A 2011 research on the regional cement market estimates that consumption grew by 15 per cent to 6.9 million MT across the five countries, with Kenya accounting for over 3.1 million tonnes.
Raval Guru, the managing director at National Cement, said there is likely to be a shift in the sourcing of gypsum from Isinya because the produce from Garissa is of a higher quality that more than makes up for the long distance.
“We are seeing a shift towards Garissa because it has a higher quality of gypsum,” said Mr Guru, whose firm is the newest player in the local market.
The establishment of a cement factory is an excellent investment opportunity. However, it dependent on the production of sufficient megawatts of electricity which in itself forms another lucrative investment opportunity.
The factory will supply the industry’s expanding export market that experienced an average growth rate of 14.2% for the period 2006 –2011. This demand can only rise with upcoming investments in road, rail through LAPPSET and emergent industries and cities along the corridor.
Other Mineral deposits found in Garissa county are: