DP World, GulfCap advance 222-hectare Mombasa industrial park with 20,000 jobs expected
More than 60 companies have shown interest in the 222-hectare Special Economic Zone
Dubai: DP World and Kenya-based GulfCap Africa have moved ahead with plans for a 222-hectare industrial park in Mombasa that is expected to support more than 20,000 direct and indirect jobs once completed.
The two companies have signed a Shareholders Agreement formalising the joint venture behind the planned Special Economic Zone, following the partnership announced in early August.
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More than 60 local and international companies have already expressed interest in taking space within the development.
The first phase of the Mombasa Industrial Park will cover 40 hectares, with the wider project aimed at attracting foreign direct investment, expanding Kenya's manufacturing capacity and connecting local businesses with regional and international markets.
More than 60 companies show interest
Businesses operating within the park are expected to have access to markets covered by the African Continental Free Trade Area, Kenya's Economic Partnership Agreement with the European Union and the Comprehensive Economic Partnership Agreement with the UAE.
The project is also expected to create opportunities for Kenyan suppliers and service providers, including small and medium-sized enterprises, while supporting their integration into regional and global supply chains.
Today we are taking an important step towards Kenya’s future economy. The tripartite agreement between DP World, Country Government of Mombasa and GulfCap demonstrates what is possible when government creates the right environment for business. Government will support this industrial ambition with the infrastructure required to make it competitive. Our objective is to lower the cost of production so that goods made in Kenya can compete successfully in the region and the global market.Dr. William Samoei Ruto, President of the Republic of Kenya
Manufacturing and logistics brought together
DP World said the development is intended to bring industrial capacity and logistics infrastructure closer together, helping businesses reach markets more efficiently while attracting new manufacturing investment into Kenya.
Together with GulfCap Africa, we are moving from ambition to delivery. The opportunity is not simply to build an industrial park, but to create a platform for investment, manufacturing and trade that can generate lasting economic value for Kenya and the wider region.Essa Kazim, Group Chairman of DP World
Mohammed Akoojee, CEO and Managing Director, Africa, DP World, said the agreement marked an important step in the development of the industrial park and strengthened the company's long-term commitment to Kenya.
DP World plans to use the development to support businesses operating in the country while strengthening Mombasa's role as a trade gateway.
20,000 jobs expected
GulfCap Africa said the completed park is expected to have a sizeable economic and employment impact, with more than 20,000 jobs expected to be created directly and indirectly.
The agreement was signed in Nairobi in the presence of President Ruto and advances the development of the planned Special Economic Zone following the initial DP World and GulfCap Africa partnership announcement in August.
