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.
The mega factory which will sit on 177 acres of land will be funded by Chinese lenders and will encompass the construction of an industrial base for research purposes, production, marketing and display of prefabricated materials.
The Chinese company is well known in Kenya since it is a key player in the construction sector. It has over the years constructed high end malls and highways.
The prefabricated building technology is being backed on in the African region because it is a faster mode of construction with the ability of cutting costs by 30 per cent. Most local property developers are highly embracing alternatives of building technologies as they intend to find ways of lowering costs and maximizing returns.
The expandable polystyrene system (EPS) is one example of alternative that has been appreciated by many contractors; it provided durability, strength faster and cheaper construction unlike brick and motor methods. They also do not rot and have no nutritional value hence do not attract termites and other kind of pets making the building more durable.
The technology is highly applies in few countries like Indonesia, Malaysia, South Africa, Italy, UAE, Mexico, Romania among others but locally, the technology is being marketed by the National Housing Corporation (NHC) among some other private firms.
China Wu Yi Co., Ltd. is a construction and engineering company carrying out international projects as the overseas arm of the Fujian Construction Engineering Group Company.