Linglong will build a plant in Kenya
On September 16, the Minister of Investments, Trade and Industry of Kenya, Li Kinyanjui, and the Chairman of the Board of the Chinese company Linglong, Wang Feng, signed a memorandum of understanding regarding the construction of a new tire plant in the city of Mariakani, Kilifi County, on the territory of the Mombasa Special Economic Zone.
The document was signed in the presence of the President of Kenya, William Ruto, as part of an investment forum, and it is expected that the $800 million project will create more than 1,500 new jobs and also "raise the country's status as a global industrial hub".
"It was an honor for me to sign a cooperation agreement with Wang Feng, Deputy Chairman of the Board of Linglong Group and Chairman of the Board of Linglong Tyres," Ruto said, adding that the new investment will be an important step in transforming Kenya's industry.
"In terms of both Kenya and Africa, we must stop thinking small," the President said. "We must raise our ambitions to compete with the best in the world."
Negotiations with Ruto were held in January 2025, and then he promised comprehensive support to foreign investors through various incentives that should attract companies intending to launch projects in the country.
According to Ruto, the new project will accelerate the implementation of Kenya's industrialization program, and the creation of SEZs is a driver of economic and investment development throughout Africa. "This project will create jobs, attract qualified personnel, and make Kenya a reliable location for world-class investments," he said.
Kenya previously had a tire plant, Sameer Africa, which was closed in 2020. At the same time, there is a significant demand for tire products in the country, and in the first quarter of 2025, the volume of the local market amounted to about 4 billion shillings (31 million dollars), while in the last quarter of 2024, this figure was 3.8 billion shillings (29 million dollars), and with the help of its own tire production, the country aims to reduce its dependence on imports and reduce the trade balance deficit.