Turkey states interest into geothermal investments in Kenya

Turkey states interest into geothermal investments in Kenya KenGen Olkaria II plant, Kenya (source:
Alexander Richter 25 Jun 2010

Turkey reveals interest to enter Kenya's energy sector, particularly with an interest in the geothermal ambitions of the country.

As part of a scheme for stronger relations with Kenya on extended trade opportunities between the two countries, Turkey reveals interest in investments in the country’s geothermal energy sector.

As part of the second Turkish Trade Fair in Nairobi, ” Turkey has revealed its interest to enter the energy sector, which is likely to be a shot in the arm for Kenya faced with a limited power supply.

The Turkish Ambassador to Kenya Tuncer Kayalar said: “We are interested in investing in the energy sector mainly in geothermal, wind and solar power, supplying generator transformers and taking up tenders for the electricity transmission lines.”

He said the fair marks an important step in fostering the economic and trade relations among business communities in the two countries.

Turkish government and the Turkel Fair Organisation have organised the fair that is running until June 26.

It is expected to attract, among others, manufacturers, traders, government officials, and investors.

“The business community will find it useful as it will cement relations and…provide a gateway for Turkish businesses to increase investment in Kenya and the wider East Africa,” Mr Kayalar said.

In the coming months, he said, Turkish businessmen will visit Kenya in the hunt for investment opportunities — a move with the potential of promoting trade and tourism.

Turkey is also keen on agriculture and livestock sectors where they intend to set up processing plants for sunflower and corn oil, a fertiliser manufacturing plant and poultry farm.

“The bilateral trade agreement between Turkey and Kenya is meant to promote investments and eliminate constraints such as double taxation,” he said.

The trade fair comes at a time when investors from Asian countries are showing increased interest in Kenya as an investment decision, with the bulk eyeing infrastructure.

Last week, the Thai government joined the party, saying investors are interested in investing in the flagship projects identified in Kenya’s Vision 2030, including tourism, agriculture, manufacturing, trade, IT, and financial services.

Thailand and Kenya have established a joint commission for bilateral co-operation which met in Nairobi to debate priorities.

Chinese companies are already winning tenders worth billions of shillings like building the Sh27 billion Thika highway, the Sh2.9 billion expansion of the Kisumu airport and the construction of the eastern and Northern by-passes.”

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Source: Business Daily Africa