Monday, January 30, 2012

General Electric to invest in Kenya’s infrastructure sector


US infrastructure firm, General Electric, has signed an agreement with the government to modernise Kenya’s transport, health and aviation industries.

Undertaken in partnership with the Vision 2030 secretariat, the projects will increase General Electric’s (GE) foothold in the region at a time when Western companies in East Africa are facing stiff competition from their Asian counterparts.

“The net worth of a GE partnership with Kenya through Vision 2030 cannot be gainsaid,” said Vice President Kalonzo Musyoka yesterday.

He was speaking during a roundtable meeting with various government officials and stakeholders from the health, transport and energy industries. Already, GE has invested $300m to $400m in renewable energy through the Kipeto wind generation plant in Kajiado.

The project will produce 100MW of power in its first phase with 250MW projected for subsequent phases.

The wind power plant will be opened in two years and is the single largest foreign direct investment in Kenya’s energy sector. While helping plug in Kenya’s power deficit, the project will also help General Electric to gain mileage in international carbon trading markets.