A Chinese firm has signed multi-billion shilling deal with the Kenyan government for the construction of an industrial park at the Eldoret Special Economic Zone.
The Guangdong New South Group Ltd, signed the deal approximated to be about Sh200 billion in Beijing in the presence of President Uhuru Kenyatta in a private sector agreement.
The project titled Africa Economic Zones is being put up through a partnership between the Chinese firm and Kenya's Africa Economic Zones Ltd.
Africa Economic Zone (AEZ) is the first privately owned special economic Zone in Kenya.
The agreement is to develop and operate a high-end Special Economic Zone, with world-class infrastructure in Eldoret, Uasin Gishu County.
The comparative advantage for setting up the Special Economic Zone in Eldoret lies in easy access to raw agricultural materials.
Consequently, AEZ will offer massive land space away from the hustle and bustle of over-populated cities.
President Uhuru Kenyatta congratulated Africa Economic Zones Ltd and Guangdong New South Group for their achievements to date saying he was impressed by the projected economic impact the project will have on both the local and national economy.