In a recent mega investment that is expected to transform Kenya into a competitive industrial hub in Africa, Centum Investment Company PLC has just entered into a partnership with ARISE, who are a prominent developer of industrial ecosystems in Africa, to launch a $3 billion project at the Vipingo Special Economic Zone (VSEZ). This ambitious project located at the Kenyan coast is expected to create up to 500,000 jobs.
The agreement that was reached between the two sides entails the development of a 2,000-acre site recently designated as a Special Economic Zone (SEZ). Additionally, this ambitious undertaking will transform Kenya into a competitive industrial hub in Africa once completed.
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Project Factsheet
Cost:
It is expected to attend $3 billion worth investments
Partnership:
- The project is a collaboration between Centum Investment Company PLC and ARISE Integrated Industrial Platforms.
Location:
The VSEZ is located in Vipingo, Kilifi County, on the Kenyan coast, 42 Kilometers from Mombasa
Size:
It encompasses a 2,000-acre site.
Significance:
- The VSEZ aims to transform Kenya into a competitive industrial hub.
- It is designed to lower costs, streamline operations, and maximize profitability for businesses.
- It will function as a manufacturing, logistics, and business
- It is expected to create 500,000 jobs.
- It will contribute to Kenya’s economic growth through industrialization.
Sectors:
The VSEZ will focus on high-growth sectors, including:
- Automotive
- Pharmaceuticals
- Agro-processing
Infrastructure and amenities:
- The zone will provide a sustainable business environment with modern infrastructure and amenities.
- Plans include residential areas, commercial spaces, and a logistics zone.
Strategic importance:
Its strategic location provides direct access to major shipping routes, enhancing connectivity with Tanzania.
According to the CEO of Centum, Dr James Mworia, this strategic partnership is expected to utilize the expertise of ARISE in the management of industrial zones to develop the VSEZ into a major manufacturing, logistics, and business park.
Significance of the Project
Additionally he also emphasized the project’s significance stating, “Vipingo SEZ is a very transformative project that will provide jobs for thousands of youths and mark Kenya as a top destination for investment.”
Gagan Gupta, the founder and CEO of ARISE Integrated Industrial Platforms, stated that they were honoured to be part of this ambitious development. This marks a major milestone for the expansion of the firm’s industrial model into East Africa.
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Also, as for the location, the VSEZ is located 42 kilometres from Mombasa. It is expected to provide direct access to the major shipping routes, enhancing general connectivity with neighbouring Tanzania. Additionally, the project is expected to attract investments that add up to $3 billion and generate both direct and indirect jobs.
Facilities at the Vipingo Special Economic Zone
Furthermore, this upcoming park will contain a number of high growth sectors like automotive, pharmaceuticals, and lastly agro processing. Furthermore, this ambitious project promises a sustainable business environment that will have modern infrastructure and facilities.
Additionally, it will have residential areas, commercial spaces, and a logistics zone. This project aims to provide for the needs of a wide range of industries while fostering regional economic growth.
