Guangdong Silk-Tex Group sets-up operations in Kenya

The world’s largest silk producer, Guangdong Silk-Tex Group – has announced its plans to establish operations in Kenya.

Top officials of the government-owned company met Kenya’s President, Uhuru Kenyatta, in Shanghai, China – whereby they confirmed plans to setup business in Nairobi. Their Chairman, Ke Huiqi, led officials from the company.

The company will not only set up a silk processing factory at the Export Processing Zone in Athi River, but will also establish a silk farm.

The Guangdong Silk-Tex Group will establish a cocoon farm on an estimated 8,237 acres of land, with the capacity of handling the entire silk value chain covering cocoon procurement, silk-reeling, weaving and trading.

The venture is expected to create over 300,000 jobs for Kenyans.

In another sitting, President Kenyatta met officials of Cherami China-Africa Investment Management, a firm that plans to construct a cancer treatment centre in Kenya, in partnership with the University of Nairobi.

The proposed cancer treatment and referral centre is envisioned to become the largest such facility in Sub-Saharan Africa and will be constructed next to the University of Nairobi’s Dental School.

The joint venture will include exchange programmes with leading Chinese universities, as well as capacity building for Kenyan cancer experts.

The partnership will also include other Kenyan universities, as well as explore opportunities in agricultural value addition.

The Kenyan delegation to the meeting included University of Nairobi VC Prof. Peter Mbithi, while officials of Cherami were led by its Director, Chen Ruibing and CEO Wei Xiaolin.

Additionally, President Kenyatta and President Xi held bilateral talks at the Xijiao State Guest Hotel in Shanghai, during which they discussed measures to strengthen trade and investment ties between Kenya and China.

At the meeting, President Kenyatta, who is one of the Chief Guests at the China International Import Expo, said the trade fair provides a platform for more win-win partnerships.

On his part, the Chinese leader gave a firm assurance that China will take proactive measures to correct the trade imbalance between Kenya and China.

In a day full of meetings, President Kenyatta also held talks with Chinese investors eyeing opportunities at the Lamu Port.

Source: African Strategic-Ventures (ASV) & Capitalfm.