29.03.2024 – 19:48
Third City
Tatu City, Kenya, March 29, 2024 (ots/PRNewswire)
The $30 million facility will employ 1,800 Kenyans in the first phase
FullCare Medical has opened a new medical apparel manufacturing facility in Tatu City, Kenya’s 5,000-hectare mixed Special Economic Zone (SEZ).
The FullCare Medical facility represents a $30 million investment and will employ 1,800 Kenyans in the first phase. In further phases, the company plans to employ up to 7,000 Kenyans.
“We chose Kenya and the Tatu City Special Economic Zone for our investment because we believe in the transformative power of collaboration. This state-of-the-art facility, which utilizes cutting-edge solar technology for sustainable production, will export US$60 million worth of medical products annually while meeting the needs of the local market,” said Lu Jianguo, founder of FullCare Medical.
“The Tatu City Special Economic Zone is attracting record levels of foreign direct investment to Kenya. As Kenya’s first mixed-use special economic zone, Tatu City has already attracted $2.5 billion in investments from more than 78 companies – many of them global leaders in their fields, from healthcare to food and beverage manufacturing to call centers and Software development. These investments create many thousands of much-needed jobs for Kenyans,” said Stephen Jennings, founder and CEO of Rendeavour, the owner and developer of Tatu City.
Zhang Yijun, ministerial adviser at the Chinese Embassy in Nairobi, and Kenyan government officials attended the opening ceremony.
“FullCare Medical symbolizes the friendship between China and Kenya in the common pursuit of progress,” said Mr. Zhang.
The International Finance Corporation, the investment arm of the World Bank, provided $100 million in financing for FullCare Medical’s expansion in Africa.
The FullCare Medical facility represents one of the most significant foreign direct investments in Kenya in recent years and sets the benchmark for dynamic and entrepreneurial Chinese companies in Africa.
More than 78 local, regional and global companies are operating or in development in Tatu City’s business-friendly location, including CCI Global, Heineken, Dormans, Copia, Cooper K-Brands, Grit Real Estate Income Group, Twiga Foods, Freight Forwarders Solutions , ADvTECH, Friendship Group and Davis & Shirtliff.
Benefits for businesses in the Tatu City Special Economic Zone include exemption from VAT, import and stamp duties, and corporate income tax of 10% for the first 10 years and 15% for the subsequent 10 years.
About FullCare Medical FullCare Medical (Kenya) SEZ Limited is a Kenyan company with more than two decades of experience in the production and global distribution of award-winning, high quality medical care and protective equipment. FullCare Medical’s modern manufacturing facility in the Tatu City Special Economic Zone is expected to serve Africa, Europe and the United States and create more than 1,800 jobs in the first phase.
About Tatu City Tatu City is a 5,000-hectare new city just outside Nairobi with housing, schools, shops, a shopping district, a medical clinic, natural areas and recreational opportunities for more than 250,000 residents and tens of thousands of daily visitors. Tatu City schools are attended by thousands of young people every day. Residential properties for all incomes and more than 78 businesses contribute to the growth of the country’s first special economic zone. Located approximately 30 minutes from Westlands, Tatu City represents a new way of living and thinking in Kenya. Life, work and leisure should take place in an environment without traffic congestion and long journeys.
Tatu City is a project of Rendeavour, Africa’s largest new city developer, with visionary, growth-oriented projects covering 30,000 hectares in Ghana, Nigeria, Kenya, Zambia and the Democratic Republic of Congo.
For more information about Tatu City, visit www.tatucity.com
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Original content from: Tatu City, transmitted by news aktuell