Business

A Turkish company is establishing a ceramic and granite factory in Kenya with an investment of $146 million

Turkish Ceramic Granite and Tile SEZ Ltd, which will produce ceramics and granite in Kenya’s Naivasha Special Economic Zone (SEZ), will employ more than 960 people.

The company, affiliated with Ankara-based Turkish Industry Holding, transferred $5 million (₺153 million) for the first stage capital to be transferred to Kenya Commercial Bank, following the agreement with Halkbank.

Mehmet Coskun, chairman of the company’s board of directors, said that the total cost of the project is $146 million (₺4.4 billion) and 70% of the products produced will be for export.

Coskun stated that thanks to ceramic and granite investments, Kenya will save at least $220 million of foreign currency annually and earn $125 million of foreign exchange income.

Coskun stated that the infrastructure works of the project include activities such as road, excavation, filling, steel construction manufacturing, mobilization and first stage capital transfer. Coskun added that $8.3 million have been spent so far for the infrastructure works of the project.

The Turkish company started the construction of the ceramic and granite factory, which will be built on a 1,200-decare land in Naivasha, Kenya.

5 MORE FACTORIES AFTER CERAMICS FACTORY WILL BE BUILT

The company will also manufacture MDF, sanitary ware, tissue paper, steel and aluminum profiles at the Naivasha SEZ. Coskun also stated that the total number of employees of the six factories will be more than 2,800 people and that they will establish a Technical training academy in cooperation with the Kenyan government. He announced that he would invest $760 million in these six factories.

AT THE SAME TIME, A TECHNICAL EDUCATION ACADEMY WILL BE ESTABLISHED

Coskun also stated that, in accordance with the agreement made with the Kenyan government, they will establish a technical training academy and provide courses in areas such as ceramics, granite, MDF, sanitary ware, tissue paper, steel and aluminum profile production.

Coskun added that they target the end of 2024 for the completion of the project and that they are happy to contribute to the economic and social development of Kenya.

Source: Patronlardunyasi / Prepared by Irem Yildiz

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