By: BRIAN NGUGI
Tatu Industrial Park, the light factory area of Tatu City, broke ground on Tuesday on a 420-acre site with plans to target an additional 12 local and multinational companies by the first quarter of next year.
Founder and chief executive of Rendeavour, the majority shareholder in Tatu City, Mr Stephen Jennings, told the Nation that a dozen investors had already signed deals to locate their enterprises at the park, with an additional 12 showing significant interest.
“I think we will be 80 to 90 per cent sold out by the end of next year,” said Mr Jennings.
He said global consumer goods giant Unilever and Kenyan companies Dormans, Kim-Fay and Maxam are among those that have announced plans to build new manufacturing plants at the park. Dormans had already started construction, he added.
“The Unilever site is 70 acres. It will be their biggest site investment in Africa,” said Mr Jennings.
IMPACT OF COURT CASES
Mr Jennings, meanwhile, shrugged off fears that protracted court cases pitting the lead investors of the proposed Sh350 billion Tatu City and a section of local businessmen over the development had impacted negatively on the project.
“We are having a lot of success. The (court case) is not really relevant for the project. There is a lot of momentum as you can see,” he said.
Industrialisation and Enterprise Development Cabinet Secretary Adan Mohamed, who attended the ground breaking ceremony, urged local and international investors to take advantage of incentives accorded to them by the government if they set up in such industrial parks.
He said the State would continue with its national project to set up industrial parks in parts of the country to stimulate investment.
“We are urging investors to take advantage of the improving business environment as has been vindicated by the various global reports,” said Mr Mohamed.
SOURCE: DAILY NATION