AVIC International Holding Corporation has made public their intent to establish their African headquarters in Nairobi, Kenya. The project will be undertaken at a cost of US$ 200m.
The building will be set up on a 2,500 square meters piece of land and will include commercial units, a hotel, residential units and offices. The time frame set for the project to be complete is five years and it is expected to create 2000 jobs during the realization phase, and 3000 jobs once complete.
Avic International Africa Director Huang Hong indicated that they chose Kenya as their headquarters in Africa due to its geographical location, the close bilateral relations between the two states and the favorable economic environment in the country. AVIC International chairman, Wu Guangquan, said the company’s engagement in the African market remains critical to its global business strategy, adding that the company is looking beyond mere commercial interests.
The firm has ongoing projects in Kenya, including construction of Terminal 4 at the Jomo Kenyatta International Airport (JKIA) and the Greenfield Airport, Two Rivers project in Westlands, UAP Towers in Upperhill and another real estate project in Runda.
Other Chinese companies that have set their headquarters in Kenya include StarTimes, China Daily and Xinhua News Agency. East African Affairs, Commerce and Tourism Cabinet Secretary Phyllis Kandie applauded the move and said that it should be an indication to other Chinese firms that indeed they should be assured of government support when they venture into the country.
AVIC International has made remarkable strides in many of its wide- ranging business areas, such as international aviation, trade and logistics, retail and high-end consumer goods, real estate and hotel management, high-tech electronics and resource development, with an overall portfolio of over US$ 26bn.