Chinese consortium bets Sh20bn on Kenyan manufacturing sector
A Chinese consortium has set out on a Sh20 billion project to construct an incubation park in Athi River.
CIFAL International and China International Investment have broken ground on the Sino-African Incubation Park is expected to support African export their products to global market.
The first phase of the project will cost an estimated Sh500 million to set up a promotion centre and an industrial park.
Speaking during the launch, CIFAL International Managing Director Anna Tao said construction of the project will be undertaken by Qingjian International Group in four phases over the next three years.
“From investment, construction, operations, industrial incubator, trade platform services, equity investment and other projects, the Sino-African Incubation Park will be a solid bridge to connect Sino-African industries and introduce competitive edge of industries in Kenya,” Ms Tao said.
The park will provide a one-stop shop for business services such as exhibitions, offices, warehouses as well as public e-commerce office services.
In the first phase, the park will launch industries in medical, chemical, cosmetics, foodstuff, machinery, building materials as well as household appliances.
“It will also provide enterprises with supporting resources and services such as logistics and distribution, product or technology testing, catering staff meals, office supplies, marketing and advertising materials, communications and many more,” she said.
The park will be located at the Export Processing Zone.
The investment is expected to boost the country’s local manufacturing sector.
The government has already written to the Kenya Association of Manufacturers to list all locally manufactured goods that meet international standards.
The government is in 2017 expected to block the entry of goods that can be sourced locally.
For Citizen TV updates
Join @citizentvke Telegram channel
Video Of The Day: CAS Rachel Shebesh and athlete Asbel Kiprop share their mental health journeys