100 companies eye Naivasha industrial park investments

Trade and Industrialisation Secretary Peter Munya. FILE PHOTO | NMG 

By ERIC MATARA
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Summary

• Companies that will be situated within the zone are expected to enjoy direct connection to cheaper geothermal power from the Olkaria plant and special tax incentives.
• The planned construction of the Naivasha Industrial Park and dry port, have raised the profile, with investors, residents and leaders upbeat that the projects will boost the fortunes of the region.

More than 100 local and foreign investors have expressed interest in setting up shop at the planned Naivasha industrial park, Nakuru County officials have said.

The Government, on July this year, designated 9,000 acres of land in Naivasha, Mombasa and Machakos as Special Economic Zones (SEZs), as it stepped up efforts to boost manufacturing.

A number of local firms and foreign investors from countries like India, Europe, United States of America (USA), the Netherlands, China, Sri Lanka and Thailand are said to be looking to establishing key investments within the economic zone.

“Various investors have shown interest in putting up industries in the county, mainly within the Special Economic Zone. Many seek to benefit from the extension of the Standard Gauge Railway (SGR), the Naivasha Industrial Park and the dry port. We welcome more local and international investors to set base in Nakuru as this will create thousands of employment opportunities as well as boost industrial development in the county,” said Governor Lee Kinyanjui.

Companies that will be situated within the zone are expected to enjoy direct connection to cheaper geothermal power from the Olkaria plant and special tax incentives-in line with provisions of the Fiscal Incentives Act, 2015. 

The planned construction of the Naivasha Industrial Park and dry port, have raised the profile, with investors, residents and leaders upbeat that the projects will open up Nakuru as a commercial hub in East Africa region.

“The county’s location, good infrastructure, energy from Menengai and Olkaria geothermal plants, the upcoming airport in Lanet and SGR now connecting Naivasha and the Mombasa Port, are an added advantage to investors,” said Mr Kinyanjui.

Once a vibrant, bustling industrial citadel, Nakuru has in the past two decades witnessed a growing trend of grand exits of industrial investors.

Trade and Industrialisation Secretary Peter Munya early this year gazetted 404.7 hectares (1,000 acres) in Mai-Mahiu area as a special economic zone.

The other two parcels of land include the 2,023 hectares (5,000 acres) in Malili Ranch that hosts Konza City on Mombasa Road, Machakos County and the 1,214.06 hectares (3,000 acres) parcel of land in Dongo Kundu area in Mombasa County.