DP World and Kenya-based GulfCap Africa have signed an agreement to develop the Mombasa Industrial Park, a planned 222-hectare Special Economic Zone in Kenya.
The agreement was signed in the presence of Kenyan President William Ruto and strengthens DP World’s plans to expand its investment in Kenya and build integrated industrial and logistics infrastructure in East Africa.
The first phase will cover 40 hectares, with the full development aimed at attracting foreign investment, expanding local manufacturing and connecting Kenyan businesses with regional and global markets.
More than 60 local and international companies have already expressed interest in the zone. Once completed, the project is expected to create more than 20,000 direct and indirect jobs.
The industrial park is also expected to create opportunities for Kenyan suppliers and small and medium-sized businesses, helping them become part of regional and global supply chains.
Businesses in the zone will also benefit from Kenya’s trade access through the African Continental Free Trade Area, its Economic Partnership Agreement with the European Union, and the Comprehensive Economic Partnership Agreement with the UAE.
Speaking at the signing, President Ruto said the project represents an important step towards Kenya’s future economy.
He added that the government would support the development with the infrastructure needed to make Kenyan production more competitive.
DP World Group Chairman Essa Kazim said the investment reflects the company’s confidence in Kenya’s long-term growth, while GulfCap Africa founder Suleiman Shahbal said the project could have a major socio-economic impact on Mombasa and create opportunities for thousands of Kenyans.
In the presence of the President of the Republic of Kenya, DP World and Kenya-based GulfCap Africa signed an agreement for the development of the Mombasa Industrial Park, which is planned as a 222-hectare Special Economic Zone (SEZ). pic.twitter.com/yYfLtzN4D7
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