Chinese firm China Wu Yi to construct mega factory in Kenya
A whopping US$ 38m is set to be spent on the construction of a massive factory in Nairobi , Kenya by the giant Chinese firm- China Wu Yi as it seeks to enhance its exposure in the real estate in Kenya.
The board of Director of the company approved the decision that its local subsidiary China Wu Yi Kenya Ltd will construct the building.
“The investment has already been signed out to the Kenya subsidiary China Wu Yi (Kenya) Ltd in Nairobi for the construction and building of the project,” the company said in a statement.
Chinese firm Wu Yi to carry out major road expansion in Kenya
China Wu Yi, a Chinese based firm is now expected to carry out a major road expansion in Kenya in the next few weeks.
China Wu Yi won the U$158Million project to expand the a 25km stretch of Waiyaki Way starting from James Gichuru Road junction to Mai Mahiu turnoff on the Nairobi-Nakuru highway.
The road expansion in Kenya which is expected to reduce the frequent traffic jams experienced in Kenya’s capital Nairobi is part of the World Bank-funded mega roads expansion project.
The other project that is in the World Bank mission is to converse of the 45.2km road between the Jomo Kenyatta International Airport (JKIA) and Rironi into a superhighway.
Road construction in Kenya: IFC reached for support
Kenya is now in negotiations with International Finance Corporation (IFC ) for a line of credit of $1.5 billion. The credit is aimed at financing road construction in Kenya.
The road in question is part of the construction of 4,000km of urban roads. In addition, it will be used to fund 6,000 kilometres of rural roads earmarked for funding from state coffers.
Nevertheless, government plans to raise $5.5 billion to be able to complete 10,000km of road construction in Kenya. This follows a move by local banks to decline a request to lend the money to the contractors.
Dangote to nearly double production capacity across Africa in next three years
Dangote Cement, Nigeria's biggest listed company, said it aims to nearly double its production capacity over the next three years and half of its output by the end of 2019 will come from African plants outside its home market.
The company, majority owned by billionaire Aliko Dangote and Africa's biggest cement producer, plans new plants in Nigeria which will add between nine-million and 12-million tonnes to its existing capacity and will also expand production into Ivory Coast, Liberia, Mali, Niger, Kenya and Zimbabwe, it said in a presentation on Tuesday.
