China seeks to invest in gas market in Kenya
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China to invest in gas market in seven regions in the country's Special Economic Zones (SEZ)
China to invest in gas market in seven regions in the country’s Special Economic Zones (SEZ).
Trade Cabinet Secretary Moses Kuria on Wednesday, April 5, hosted a delegation of Chinese investors who sought to invest in the country’s Special Economic Zones (SEZ).
Dongo Kundu, Naivasha, Lamu, Kenani, the Numerical Machining Complex (NMC), the Green Engineering SEZ, and Portland Ujenzi SEZ were among the locations where China will invest.
The group, led by Robert Sun, President of the American Chinese CEO Society (ACCS), visited the Taifa gas development site in Dongo Kundu as a benchmarking exercise and in order to get ready to enter the nation.
Hassan Abubakar, PS for Investment and Promotions, and other members of the parliamentary trade committee led by Chairman James Gakuiya accompanied CS Kuria during the tour.
Owned by Tanzanian billionaire, Rostam Aziz, Taifa Gas is one of the biggest investments in the country consisting of a gas plant and storage facility.
The company is set to offer competition and lead to a reduction in prices.
The firm acquired the license on February 21, 2023, to set up the 30,000-tonne liquefied petroleum gas (LPG) handling facility at the Mombasa port.
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The licensing deal culminated in a process initiated by former President Uhuru Kenyatta and Tanzania’s Head of State, Samia Suluhu in 2021.
The investment in gas market by China comes after CS Kuria was in March put on spot due to his remarks regarding China Square located at Unicity Mall along Thika Road.
The Trade CS indicated that he sought to support the local manufacturing by trying to prevent the country from becoming the dumping ground for subpar goods.
He added that plans were underway to establish Kenya Square which would support local trade and offer affordable products.
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