Chinese firm China Wu Yi to build mega factory in Kenya
$38 million will be spent on constructing a huge factory in Kenyan. Chinese firm China Wu Yi will build the plant in capital city Nairobi in order to enhance its exposure in Kenyan real estate.
The Board of Directors of the company have given permission for local subsidiary China Wu Yi Kenya Ltd to construct the building.
“The investment has already been signed out to the Kenya subsidiary China Wu Yi Kenya Ltd in Nairobi for the construction and building of the project,” the company said in a statement.
The mega factory will use up 177 acres of land funded by Chinese lenders and will be an industrial base for research purposes, production, marketing and display of prefabricated materials.
China Wu Yi is renowned as a key player in the Kenyan construction. In the past it has constructed high end malls and highways.
Prefabricated building technology is supported in Africa as it is a faster construction mode – it has the ability to cut costs by 30 percent.
China Wu Yi Co., Ltd. is a construction and engineering company carrying out international projects as the overseas arm of the Fujian Construction Engineering Group Company.
SOURCE: [Construction Review]