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Kenya signs Sh25.5 billion deal with Chinese firm

Kenya signs Sh25.5 billion deal with Chinese firm

Image from businessdailyafrica.com


Embu County of Kenya has signed an investment agreement worth Sh25.5 billion ($240 million) with Shanxi Dikuang overseas Engineering Construction Company of China to stimulate economic growth in the region.

Under the pact, the Chinese company is to construct an agricultural demonstration centre, value addition parks and a mineral resource exploration and processing unit.

The company will also develop hospitality facilities, build support infrastructure at the Mwea Game Reserve and construct a waste treatment plant. Speaking in Embu town yesterday during the signing of a memorandum of understanding, Governor Martin Wambora welcomed the partnership adding that the initiative would ensure effective resource mobilisation and wealth optimisation for Embu County.

“We are looking forward to working with the Chinese firm to implement the proposed projects and further develop the Embu County. We encourage other investors from the region to invest especially in value addition of avocado, coffee and tea sectors," he stated.

It is reported that the project funds will be guaranteed by the Shanxi Provincial Government. He Tiancai, deputy governor of Shanxi Province, who attended the signing ceremony, said that all projects including engineering, procurement, construction and financing will be implemented jointly by Embu County and the company.

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