M a r k e t N e w s

Kenya: New Sh200 Billion Industrial Hub to be a Game-Changer for Investors

Posted on : Wednesday , 18th April 2018

A new industrial park in Uasin Gishu is all set to be game-changer in the economic fortunes of the region.

The African Zones Pearl River Industrial Park (AEZ) will be a part of the country’s development plans and is worth a whopping Sh200 billion.

Dr David Langat,the chairman of the park weighed in saying that the region will now earn more from the agriculture value chain.

He also added saying that landowners and farmers in Uasin Gishu, West Pokot, Samburu, Baringo, Turkana and Trans Nzioa will have an opportunity to increase their incomes through contract farming. "Agro-processing enterprises will aim at creating a secure supply of high quality produce by providing farmers with quality inputs under a contract to purchase, process and market," he said.

Langat spoke last week in Eoldoret where he met investors from Guangzhou in China, who maintain a keen interest in investing in the park, which is a special export processing zone.

Langat elaborated speaking about how advantageous this new industrial park will be to local and international investors because of the conducive business environment it will foster."The doors have been opened for us to do business. We should take advantage of this opportunity to foster international trade," he said.

Speaking at the same function, North Rift Economic Bloc (Noreb) chairman Jackson Mandago, who is also the Uasin Gishu County governor, said North Rift governors had agreed to support the Sh200 billion project.

Mr Mandago said AEZ would create jobs for the youth in West Pokot, Samburu, Baringo, Turkana and Trans Nzioa counties."As counties under Noreb, we will ensure the industrial park succeeds and benefits the more than 10 million people in the region," he said.

Mr Mandago said the park would be one of the largest investments in the North Rift."We foresee major benefits that will open up the region to investments in tourism and other sectors," he said.

Dr Langat said he would work with investors from different parts of the world to develop the industrial park into a world class export hub.

Through manufacturing and support facilities, the industrial park is expected to create 2,500 jobs during its development, and over 40,000 when operational, with an additional 150,000 through downstream and upstream activities.

Source : bizmap.com
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