USD-30-million facility employs 1,800
Kenyans in first phase
TATU CITY, Kenya, March 28,
2024 /CNW/ -- FullCare Medical has launched a
new medical garment production facility in Tatu City, the
5,000-acre mixed-use Special Economic Zone (SEZ) in Kenya.
The FullCare Medical facility represents an investment of
USD 30 million and employs 1,800
Kenyans in the first phase. In subsequent phases, the company plans
to employ up to 7,000 Kenyans.
"Our selection of Kenya and
Tatu City SEZ for our investment reflects our belief in the
transformative power of collaboration. This state-of-the-art
facility, leveraging cutting-edge solar technology for sustainable
manufacturing, is poised to export USD 60
million of medical goods annually while catering to the
local market's needs," said Lu
Jianguo, Founder of FullCare Medical.
"Tatu City SEZ is attracting record foreign direct investment to
Kenya. As Kenya's first mixed-used SEZ, Tatu City has
already attracted USD 2.5 billion in
investment from more than 78 businesses — many of them global
leaders in their fields, from healthcare and food and beverage
production to call centres and software engineering. These
investments are creating 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, Minister Counsellor
at the Chinese Embassy in Nairobi,
and Kenyan government officials attended the opening ceremony.
"FullCare Medical symbolises the friendship between China and Kenya in the shared pursuit of progress," said
Mr. Zhang.
The International Finance Corporation, the investment arm of the
World Bank, provided USD 100
million in financing to FullCare Medical for its
Africa expansion.
The FullCare Medical facility represents one of the most
significant foreign direct investments in Kenya in recent years, setting the benchmark
for dynamic and entrepreneurial Chinese companies in Africa.
More than 78 local, regional and global businesses are
operational or under 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.
Business benefits at Tatu City SEZ include VAT zero-rating,
import and stamp duty exemptions and 10% corporate tax for the
first 10 years and 15% for 10 years thereafter.
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 production facility at Tatu City Special
Economic Zone is designed to serve Africa, Europe and the
United States and create more than 1,800 in its first
phase.
About Tatu City
Tatu City is a 5,000-acre new city on
Nairobi's doorstep with homes,
schools, businesses, a shopping district, medical clinic, nature
areas and recreation for more than 250,000 residents and tens of
thousands of day visitors. Tatu City's schools educate thousands of
students daily, a range of homes suits all incomes and more than 78
businesses thrive in the country's first operational Special
Economic Zone. Located 30 minutes from Westlands, Tatu City
represents a new way of living and thinking for all Kenyans in a
live, work and play environment that is free from traffic
congestion and long-distance commuting.
Tatu City is a development by Rendeavour, Africa's largest new city builder with 30,000
acres of visionary projects in growth trajectories across
Ghana, Nigeria, Kenya, Zambia
and the Democratic Republic of
Congo.
For more information about Tatu City, please visit
www.tatucity.com
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SOURCE Tatu City