DP World and GulfCap Africa signed a Shareholders Agreement in Nairobi to continue the development of Mombasa Industrial Park in Kenya. Planned for 222 hectares under a special economic zone, the project must be developed less than 20 kilometres from the port of Mombasa, with a first phase of 40 hectares.
The signing took place in the presence of Kenyan President William Samoei Ruto. The agreement formalizes the joint venture between DP World and GulfCap Africa in charge of the project, following the announcement of their partnership in early August. More than 60 local and international companies have already shown an interest in establishing themselves in the area.
In particular, development should enable industrial activities to be hosted and production capacities to be brought closer to logistics infrastructure and markets served from Mombasa.
The park must also create opportunities for Kenyan suppliers and service providers, including small and medium-sized enterprises (SMEs), and promote their integration into regional and international supply chains.
Its proximity to the port of Mombasa should facilitate access to trade flows to Kenya and other markets in East Africa.
Companies located in the area will also benefit from Kenya's preferential access to several markets under the African Continental Free Trade Area (AFTAA), its Economic Partnership Agreement with the European Union and the Comprehensive Economic Partnership Agreement (EPA) with the United Arab Emirates.
In the long run, the project is announced as generating more than 20,000 direct and indirect jobs. It must also contribute to the development of local industrial capacity and the attraction of foreign direct investment.
For DP World, which already operates port infrastructure in Kenya, including through the port of Mombasa, the industrial park must combine manufacturing, logistics and access to regional and international markets. The first phase of 40 hectares is the first planned perimeter within the overall development of 222 hectares.
