President William Ruto has signed investment agreements worth nearly $1 billion, including the leasing of Nairobi’s Hilton and Intercontinental hotels to Chinese investors.
Additional Investments Secured During the Visit
The total value of the deals, signed on the second day of his four-day state visit to China, amounts to $823 million (Sh106 billion).
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In addition to the hotel deals, President Ruto’s team secured another major investment from Shandong Jialiejia Agriculture and Animal Husbandry Technology Company.
The company will establish a $30 million (Sh3.8 billion) chicken farm, producing egg-laying chickens for export to China. The project will also include a feed factory and the setup of 10,000 chickens for breeding and laying, generating over 5,000 jobs for Kenyans.
Furthermore, the Shangcheng Apparel Group plans to invest $20 million (Sh2.6 billion) in manufacturing warehouses and factories for textiles, garments, and solar power in Kajiado.
This initiative is expected to create 7,000 jobs. The company has already acquired land in Kajiado and a warehouse in Machakos county along Mombasa Road.
Congtai Steel Company Limited is set to invest $150 million (Sh19 billion) in expanding its steel plant and establishing new production units.
The company has committed to building a steel production facility in Lukenya, which will provide 3,000 jobs. It has already invested $40 million (Sh5 billion) in the Rongai steel plant in Machakos.
Jiubao Electronic Technology Company Limited has also pledged $50 million (Sh6 billion) to develop the smart transport sector.
The company plans to set up an industrial park in Mombasa, employing 5,000 people, and is eyeing a 50-acre site in Murang’a for its first tech park in Kenya.
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China Yu Yi Construction, which has previously contributed to major infrastructure projects in Kenya, including the Thika Superhighway and renovations at Jomo Kenyatta International Airport, will invest $150 million (Sh19 billion) in a Special Economic Zone in Kikambala, Kilifi county.
This project will include manufacturing, processing, and warehousing facilities, with the potential to create 6,000 jobs. The company has already acquired 191 acres of land for the project.
