Local and foreign investors are set to put up Sh1.7 billion coconut processing plants at the Coast. Kenya Coconut Development Authority managing director Francis Fondo said Tuesday that the investors are expected to implement the projects in Kwale and Kilifi counties soon. He added that Gujral Group from Canada would invest $10 million (Sh860 million) in a factory in Kwale. The company, he said, plans to process coconut oil and desiccated coconut. Dr Fondo added that India-based firm Deejay Group would invest $5 million (Sh430 million) in a coconut processing venture. He said that value addition to the 162 million coconuts produced annually in the region could uplift the income. “Last year, the coconut sector just earned the country Sh6 billion because most of the nuts are exported raw to Tanzania,” he said. “But when the processing plants worth Sh1.7 billion are up and running, the earnings from the industry would shoot to Sh25 billion a year.” He added that talks were ongoing between the Indian and Kenyan governments over importation of hybrid coconut breeds. A businesswoman based in the US, Consolata Ayoo, plans to build a plant at $1.5 million (Sh130 million) in Ukunda, Kwale, for processing tender coconut water. Through her firm, Organi Limited, Ms Ayoo intends to package tender coconut water for export to the US. Kenyan investor Philip Cheruiyot and his Indian partner, Vel Murugan, who own Kenya Coconut Investment Limited, are set to build a Sh86 million plant at Mnarani in Kilifi to process virgin coconut oil, desiccated coconut and coconut milk for local market and export. British investor Navida Natural Foods is set to put up a $1 million (Sh86 million) coconut plant at Kijipwa in Kilifi. The firm last month began operations on a pilot basis by processing coconut milk, virgin coconut oil and desiccated coconut. And Eco-Coconut Limited plans to build a $1 million (Sh86 million) plant for the processing of coconut husk into fibre and cocopeat. The company has already acquired land at Mnarani for the project. The firm plans to process 150,000 coconut husks a week and later increase the output to about eight million annually.
Posted on: Wed, 10 Jul 2013 04:54:18 +0000
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