Shareholders' Agreement Signed for Mombasa Industrial Park in Kenya, Phase One to Develop 40 Hectares

en.Wedoany.com Reported - On September 9, DP World and Kenya's GulfCap Africa signed a shareholders' agreement for the Mombasa Industrial Park, formally establishing a joint venture development relationship between the two parties for the project. The project is planned as a 222-hectare special economic zone, with a first-phase development area of 40 hectares. The agreement follows the cooperation arrangement announced by both parties in August, marking the project's transition from an early-stage cooperation framework to the stage of joint venture development and organizational implementation.

The project is located within 20 kilometers of the Port of Mombasa, and the park is positioned as an integrated platform for industrial manufacturing, warehousing and logistics, and regional distribution. Public information from the Kenya Special Economic Zones Authority shows that the Miritini area, where the Mombasa Industrial Park is located, belongs to the industrial land development segment of Mombasa County. The park targets high-value-added manufacturing sectors such as automotive, pharmaceuticals, and textiles, and also benefits from its location near the Port of Mombasa, the standard gauge railway terminus, and the airport. The existing plan divides the project into multiple phases of development, with the current 40 hectares constituting the first-phase implementation scope.

DP World has incorporated the project into its integrated East African port-logistics-industrial park layout, enabling park enterprises to connect to regional and international markets through the Port of Mombasa. DP World's previously announced development plan specifies that the park will be implemented in phases, continuing to expand the remaining development areas after the first 40 hectares, with industrial functions including manufacturing, logistics, and distribution.

More than 60 local and international Kenyan enterprises have already expressed interest in locating in the park. DP World disclosed that once fully completed, the park is expected to generate more than 20,000 direct and indirect jobs, and will allocate industrial and logistics space for local Kenyan suppliers, small and medium-sized enterprises, and manufacturing companies.

Planning materials for the Mombasa Industrial Park previously published by the Kenya Special Economic Zones Authority show that the Miritini area originally had about 569 acres of planned land, of which approximately 255.4 acres could form industrial land, to be developed in three phases. The park's key industries include automotive, pharmaceuticals, and textile manufacturing. The 222-hectare special economic zone being advanced by DP World and GulfCap under this arrangement represents a new development plan for the area, and the latest announcement has clarified the first-phase scope as 40 hectares.

In terms of market access, park enterprises can use Kenya's existing regional and international trade arrangements to enter external markets, including the African Continental Free Trade Area, the Kenya-EU Economic Partnership Agreement, and the Kenya-UAE Comprehensive Economic Partnership Agreement. In its September shareholders' agreement announcement, DP World has listed manufacturing enterprises, regional trading companies, and supply chain enterprises as the project's main investment promotion targets.