China Injects Billions Into Kenyan Textile Industry

China Injects Billions Into Kenyan Textile Industry

From CNBC Africa

The textile plant, which will be located in the outskirts of Kenya’s capital, will sit in a 50,000 acre cotton farm in Naivasha and should cost about 44 billion Kenyan shillings (500 million US dollars).

Kenya’s Cabinet Secretary for Industrialisation and Enterprise Development Adan Mohammed and Jiangsu Lianfa Textile Company president Xiangjun Kong signed the deal on Thursday.

According to Mohammed, the textile factory which will be one of the largest in the continent will create more than 30,000 jobs. The plant is expected to produce goods worth 1.5 billion dollars per annum and is also anticipated to triple, the East African nation’s annual production of textile goods.

WRITTEN BY Elayne Wangalwa/Read more at CNBC Africa