- A Turkish industrial group is in the process of putting up an investment project at the Naivasha Special Economic Zone
- Sh91 billion investment would be used to manufacture products, including ceramic and granite tiles, sanitary towels, toilet paper, towel napkins, and iron and aluminium products
- The project will employ an estimated 2,900 individuals directly and furthermore produce combined employment chances for over 30,000 locals indirectly
A Turkish industrial group is in the process of putting up an investment project at the Naivasha Special Economic Zone.
The project, which the President commissioned on Tuesday, is expected to produce approximately 2,900 employees in the local area.
During his speech in Naivasha, the President of Kenya stated that the investment made by the Turkish Special Economic Zone SEZ Limited will be a “game changer” for the economy of the country. The President mentioned that the initiative would also create work possibilities for thousands of community members.
During a press conference on Wednesday, the company’s Chairman Mehment Coskun stated that the KShs91 billion investment would be used to manufacture six different products.
These products include ceramic and granite tiles, sanitary towels, toilet paper, towel napkins, and iron and aluminium products.
However, according to Coskun, seventy per cent of their output will be destined for the export market in the United States and Europe.
He stated, “We are trying to employ 2,900 individuals directly and furthermore producing combined employment chances for over 30,000 locals indirectly.”
“We are looking to create combined employment opportunities for over 30,000 locals,” he added.
After completing logistics, which will include importing the necessary equipment and machinery, he stated that it is anticipated that the plants will be operational in two and a half years.
“We are going to push out of Naivasha for export of at least 500 containers of diverse items every day through the port of Mombasa.”He further added.
In addition to this, he disclosed that there will also be a technical school in the neighbourhood, graduates of which will be offered employment in the local manufacturing facilities.
“Without a shadow of a doubt, during the next 10 to fifteen years, the country’s export volume would reach USD20 billion, he predicted. At the moment, the country’s export volume is USD7 billion.
Vice President of Turkish Industry Holding Abdulhakim Alici stated that four of the six factories will have fresh innovation and technology that has not yet been implemented in Africa.
He added that this is a first for Africa.
“We have come to the conclusion that Kenya is the most desirable location for large-scale investments from a political, economic, and geographical point of view. And is the place that offers us the most opportunity,” he explained.
Alici observed that during President Uhuru’s most recent visit to Turkey, there was a conference of Turkish businessmen. The investors there were sure that the country was full of commercial prospects that needed to be taken advantage of.
Mwaniki Munuhe, the Vice President for African operations of the company, stated that.
“Kenya is ready to welcome foreign investors. And there are excellent chances for international investors to capitalise on the newfound hope that accompanied Kenya’s enactment of a new constitution. There are wonderful opportunities for foreign investors, and the investment will be a game changer for the country’s economy.”
He added that the local farmers would have access to many food marketplaces where they could sell their produce.
According to Munuhe, the investment made by the Turkish community will serve as a stepping stone toward future chances for investment in the Naivasha area.
The six factories in the Economic zone that are owned by Turkish Industry Holdings are a part of the government’s actions aimed at kicking off a new era of increased contribution to the country’s plan for industrialisation.
These measures are part of the Kenyan government’s efforts to modernise and industrialise the country.
The executive director of Investera Plus Africa, Tito Mutai, stated that the Naivasha project is anticipated to generate an inflow of foreign currency by virtue of superiority in high technology and raw material advantages as well as by capitalising on the Africa Continental Free Trade Area.
Mutai further mentioned that the project will create combined job prospects for more than 30,000 residents and directly employ up to 2,800 individuals.
Investera is a global business resource centre that brings together organisations worldwide, including investors, enterprises, and governments.