Chinese firms to invest Sh2.8bn in Naivasha flower farm
The consortium of Chinese firms comprising Julong and Oriental Agricultural group of companies have been prospecting the market and reaching out to county officials and business lobbies in the region over the plans. Kenya National Chambers of Commerce and Industry Nakuru branch chairman Kamau Njuguna said the Chinese investors were expected to start their business in the coming weeks.
The PSJ Advisory Group, the receiver managers appointed by CfC Bank, had given interested buyers up to Friday last week to submit bids for the Naivasha-based flower firm.
The Business Daily could not establish whether the Chinese Consortium is eyeing Karuturi’s assets, which include 126 hectares of flower under greenhouse cover, eight hectares of open air rose cultivation and housing units for more than 2,000 workers. The consortium is said be planning to also venture into fish and sisal farming in the Naivasha.
Unlike most local farms which target the European Union market, the Chinese investors hope to grow quality flowers for markets in China and Japan.
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