Kenya eyes Sh200bn in foreign investment
Kenya projects a doubling of foreign direct investment this year to over Sh200 billion on the back of renewed investor interest and confidence in the country.
Speaking at the Kenya-Japan investment forum in Nairobi, Kenya Investment Authority (KIA) Managing Director Moses Ikiara, said the improving business environment coupled with recent and planned high profile investment forums continue to attract investors.
“The FDI is growing very strongly. This year, we expect FDI inflows to grow by more than 100 per cent because of an improved business environment,” he said.
Meru County, Gulf Energy sign Sh36bn wind energy project
Meru County and Gulf Energy have entered into a joint deal to develop a 100-megawatt wind power plant.
The deal was reached last week when Meru County Investment and Development Corporation (MCIDC) and Gulf Energy signed an agreement in Nairobi represented by Mr Joel Imitira and Mr Francis Njogu respectively.
Meru Governor Peter Munya was also present during the signing.
The wind farm will cost $350 million (about Sh36 billion) and is expected to take about one-and-a-half years to complete. It will be located in Tigania East.
Firm sets up Africa’s largest biogas plant
A Sh765 million biogas plant being set up in Naivasha will generate 2.2 megawatts of power when in operation.
Speaking at the commissioning of the project on Friday, Tropical Power managing director Johnnie McMillan said the new anaerobic digester (AD) will sell 50 per cent of its electricity to Gorge Farm and the balance to Kenya Power for hook into the national grid.
Mr McMillan said 50,000 tonnes of organic waste will be consumed per year by the plant.
“More than 35,000 tonnes output from the process could be used as rich, natural fertiliser to improve the crop yield for local farms,” he said.
KENHA finalises road expansion plans to ease Nairobi traffic
The Kenya National Highways Authority has finalised plans to expand strategic roads in Nairobi to ease traffic flow.
The project, which has been divided into three sections, is set to kick off in December.
The objective is to decongest JKIA through Westlands and all the way to Rironi, said David Muchilwa, KENHA acting general manager in charge of special projects.
"The designs have been approved and are only awaiting ratification from the World Bank before we go to tender," he said in a statement on Wednesday.
