Investors sign deals worth Ksh 53 billion in Narok Investment Conference

Investors sign deals  worth Ksh 53 billion in Narok Investment Conference

Narok County government has signed nine deals worth more than Ksh53 billion with nine investors at the just-ended Narok Investment Conference.

Hind Agro Industries Ltd signed agreements with the County government to construct a Ksh1.1 billion abattoir capable of slaughtering 1,000 cows a day.

Mr. Sunil Shah of Upland Crops agreed to commit Ksh255 million for a milling plant and bakery. This will serve well wheat, maize and potato farmers.

The company is part of the United Millers group, which has been in business since 1977.

The firm also signed an agreement for a frozen French fries factory.

Mr Swapan Dhar of D G Industries said the company would invest Ksh1 billion in a pharmaceuticals manufacturing company in Narok.

Solar power projects (10MW X 10) worth Ksh15.3 billion will also be set up by Dwarkesh Energy Limited (a division of JK Corp) company, which was represented by Mr Gurpreet Singh.

Hyperspace Consulting, which has projects in Tanzania, United Kingdom and India, will help boost early childhood development initiatives in Narok.

JK Corp will set up a private hospital while Mr Sanjeev Gadhia of Astral Aviation signed an agreement to upgrade and maintain Maasai Mara airstrip among other investors.

Addressing the forum, Deputy President William Ruto appealed to investors to help turn around the county’s economy.

He said due to the government’s commitment in eliminating red tape in trade, Kenya has been rated the third most improved business destination in Africa.

At the same time, hotels and camps in Maasai Mara Game Reserve recorded booming business during the investment conference that ended on Friday.

Narok County signed investment deals worth, Ksh53 billion shillings, during the county’s, first ever Investment Conference.

Narok Governor Samuel Tunai said the deals will create over 4,700 jobs in the county, with the first project, breaking ground in the first quarter of 2016.

Tunai revealed that the county is still in deliberations with investors for other deals worth Ksh130 billion shillings.

Among the projects signed for include: wheat and milk processing plants; a 300-bed capacity private hospital; a training college for health students; pharmaceutical manufacturing plant and solar projects among others.

He said the county is now working on processing land licenses and guiding investors to follow the due process of investing in the country since most of them are foreign.

Narok County showcased over 50 bankable projects during the summit dubbed “Invest Narok”.

Tags:

Narok County Narok Governor Samuel Tunai Narok senator Stephen Ole Ntutu

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