The Government of Kenya and a Chinese firm inked an agreement for construction of first ever private special economic zone in the country.
The ground breaking ceremony for the KES 200 billion industrial park will take place on 8 July, 2017. The project will be undertaken in three phases. In phase-1, dubbed AEZ Pearl River, the Guangdong New South Group will supervise construction of the industrial park to be spread over 700 acre.
The park will construct various industries, including agro-processing, energy, machinery, engineering, construction, electronic, ICT, chemical and pharmaceuticals.
Phase- 2 will spread over 82 acre and will consist of a science and technology hub, a convention centre, and an administrative, residential, recreational and green zones.
In Phase-3, the company plans to set up an Olympia City on 1,000 acre. It will comprise a recreational zone with a stadium and golf course as well as residential homes comprising three and four bedroom units. Other features include an administration zone, schools and a social hall, and a public library, etc.
The project will create job opportunities for locals and improve infrastructure in the next two years. Over18 international companies have already signed up to set up industries on the site, while others have expressed interest in the economic zone.