, NAIROBI, Kenya, Oct 9 – Global Chinese manufacturing firm AVIC International Holding Corporation is expected to invest over Sh17.8 billion ($200million) in setting up its Africa Headquarters in Nairobi, Kenya.
Speaking during the launching ceremony in Nairobi, Avic International Africa Director Huang Hong You said they had decided to build their Africa headquarters in Nairobi not only due to their close relationship with, Kenya but due to the conducive business environment in the country.
“Our company has set up holding subsidiaries in major cities across China; has established over 110 branches in more than 50 countries and owns eight listed companies. In Africa, we have around 20 branches, and Kenya is planned as our headquarters in Africa,” Huang said.
The project will cover 2,500 square meters on the seven-acre piece of land in Westlands in Nairobi and will include offices, residential units, commercial units and a hotel.
The company says during the five year construction period, the project is expected to create at least 2,000 jobs and over 3,000 jobs once complete.
“We have received a lot of support from the Kenyan government in this project and we are very grateful. We hope to create employment and help in making Kenya an investment hub in the continent,’ Avic International President Wu Guangquan said.
Avic International is the first Chinese firm to set its Africa Headquarters in Kenya, a move that will see more Chinese firm set shop in the country and the region according to Chinese Ambassador to Kenya Liu Xianfa who attended the ceremony.
“I would like our companies to now transform from just contractors of various project here in Kenya and become investors,” Liu said.
Some of the major projects the company is undertaking in the country at the moment include the construction of Terminal 4 at Jomo Kenyatta International Airport (JKIA) and the Greenfield Airport.
Others are the construction of mega real estate project in Runda, Two Rivers by Centum Investment Company Limited and UAP Towers in Upperhill.
“Thank you for choosing Kenya as the continental home. Kenya is the gateway for to East African Community of 140 million people. This project will attract more investors from China,” East African Affairs, Commerce and Tourism Cabinet Secretary Phyllis Kandie said.
“I urge you and other companies coming to Kenya to join ventures with our local companies,” Kandie added assuring government support.