President Ruto launches power station in Naivasha, issues licenses to 6 firms » Capital News

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NAIROBI, Kenya, Jan 13 – President William Ruto has launched a power station and issued licenses to six investors which include both local and foreign companies with the move set to inject Sh24bn into the Naivasha Special Economic Zone.

The investors are set to generate 2,486 jobs across diverse sectors including bottling, EV cars, logistics, power, energy, steel mill, plant essence extraction, and a regional car auction.

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The President was accompanied by Deputy President Rigathi Gachagua, Cabinet Secretaries Davis Chirchir, Rebecca Miano, Zacharia Njeru, and Nakuru Governor Susan Kihika.

“By equipping our Special Economic Zones with clean energy and essential infrastructure, we aim to attract foreign direct investments, drive industrial growth and enhance exports,’” said Ruto.

The 90 MVA Naivasha Special Economic Zone Substation will have a substation in Mai Mahiu, Nakuru County which will power industries in the facility at reduced costs.

“Under the President’s economic reforms, Kenya is now the top choice for investors, offering stability and growth: Our GDP is booming at 5.4%, ranking 29th globally – World Bank. Kenya is the 3rd position as a top global destination for FDI in 2024,”

“Kenya leads Africa in startup capital securing $800 million in 2023, highlighting our vibrant entrepreneurial landscape,” stated State House Spokesperson Hussein Mohammed.

Investors at the Naivasha Special Economic Zone include Motors SEZ limited which is set to assemble electric vehicles at the SEZ .

The government has allocated the company two acres, with an anticipated investment of Sh1.6 billion.

Jumbo AAA SEZ Ltd which has set to invest in motor vehicles parts and equipment has been allocated a 10-acre space having invested Sh226.9 million at the initial stages and is expected to create 180 jobs once operational.

Warehouse and inventory management firm-Africa Global Logistics SEZ is expected to invest Sh3.3 billion with the government allocating it 15-acres, with anticipation it will create more than 1,500 jobs.

Horizon SEZ Ltd, manufacturer of glass bottles and glass products has also been allocated a 10 acre piece of land with an anticipated investment of Sh12.7 billion.

Ceylon Energy SEZ, an integrated factory for the manufacture of low to high voltage overhead line fittings and transmission is set to invest Sh1.1 billion on 5 acres of land with 374 jobs set to be created.

Accurate steel SEZ limited which will deal in manufacturing of steel elements is anticipated to invest Sh1.9 billion on a 10-acre land.

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