Blue Nile

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Blue Nile Rolling Mills Limited (BNRML) and Blue Nile Wire Products Limited (BNWPL) are two legally registered sister companies in Kenya, managed under Blue Nile Group (“Blue Nile” or “the Group” or the “company” - http://bluenile-group.com/). Blue Nile manufactures hot rolled steel products that trade under the ‘Kifaru500+’ brand name.Currently, the Group is run through two divisions: (i) BNRML: Rolling mills division with an annual production capacity of 100k tons; and (ii) BNWPL: Wire division with an annual production capacity of 15,700 tons. In 2016, the company began exporting its products to Tanzania, Uganda, Rwanda, Burundi and the Democratic Republic of Congo. Currently, the BNRML and BNWPL are run as independent companies. However, they would be merged and consolidated going forward.The Group is looking to raise US$14.1m to fund a backward integration program aimed at setting up 26,580 tons per annum(tpa) and Kenya’s first galvanization wire manufacturing plant in Nairobi, Kenya (the “project”). The Group is therefore seeking a US$8 million IFC Loan to Blue Nile Rolling Mills Limited. A new operations division will be created for galvanization wire manufacturing plant. The construction for the galvanized wire plant has been completed and has commenced production in June 2020.