Infinity Industrial Park is expected to create at least 20,000 direct jobs and create conducive manufacturing space for local and international investors in Kenya
Speaking yesterday during the launch of the Sh12.5 billion project, Ashok Shah, the chief executive of Abacus Property Consultants said that park provides ready serviced amenities, helping investors to cut on construction costs and time
Shah added that they are laying the infrastructure, including the sewer lines, power lines, data cables and the dual carriage access road to the Eastern bypass. Other facilities expected are a fire station, a power sub-station, a hospital and a shopping mall.
‘’Already 35 percent of the 200 acre park has been booked with an acre going for between Sh70-92 million,’’ he revealed
Investors in the park will buy serviced plots of between one and five acres for own development while SMEs will lease space in the go-downs.
The launch of this industrial park follows another one by Tatu City and is expected to address the country’s high industrial housing deficit and poor infrastructure that is shying away investors, limiting the growth of Kenya’s manufacturing sector
Nairobi is a home to several multinationals, thanks to its location advantage and qualified human resource.
There is a four hour flight difference between two biggest economies in Africa-South Africa and Egypt to the far south and North respectively.
Even though most of these multinationals have their headquarters in Kenya, most of them prefer to set their manufacturing plants elsewhere, citing the country’s poor industrial infrastructure.
A 2015 World Bank’s Doing Business Report blamed red tape bureaucracy and high cost of obtaining construction permits as major scares for investors and death bells for Kenya’s manufacturing sector.
According to the report, Kenya has the potential to become the continent’s preferred manufacturing point if key aspects like infrastructure and favorable industrial policies are put in place
Currently, the sector according to Kenya National Bureau of Statistics contributes a paltry 11 per cent to the country’s GDP, accounting for up to 70 per cent of industrial sector’s 16 per cent contribution to Kenya’s economic basket.
Kenya has recorded a surge in industrial parks for the past three years since the launch of sh14.5 billion Konza City Technology Park launched in 2013.