Toyota Tsusho CEO Jun Karube said a company team will look into the prospects of the multi-million shilling investment billed to significantly transform Kenya’s motor vehicle industry at a meeting in Kenya in April.
“We are keen to build on our investment portfolio in Kenya because of the country’s strategic position as a gateway to the East and Central African regions,” Karube said.
Karube spoke on Monday during a Kenya-Japan business forum in Tokyo that was opened by President Uhuru Kenyatta.
In 2013, Toyota Kenya opened a bus assembly plant in Changamwe – a Ksh 500 million investment that is expected to produce 40 units a month initially, rising to 200. This was the first plant of its kind opened by the Toyota subsidiary in Africa.
Speaking at the forum, Japan’s Economy, Trade and Industry Vice-Minister Shigeki Iwai lauded the robust economic partnership between Kenya and Japan.
Iwai cited Toyota Tsusho’s active presence in Kenya, undertaking mega projects on public private partnership as an example of the growing cooperation between the two countries.
Having completed the 280-megawatt Olkaria IV Geothermal power plants in January this year, Toyota Tsusho has set its focus on other projects in Kenya including a unit of Olkaria I and V, and Olkaria VI. The company’s other fields of interest include Menengai, Akiira, Longonot, Baringo-Silali and Suswa power projects.