Splash247: DP World formalises Mombasa industrial park joint venture

Published by Splash247

DP World and Kenya’s GulfCap Africa have formalised the joint venture behind a 222-ha special economic zone near the Port of Mombasa, moving the project beyond the initial development agreement signed last month.

The two companies have signed a shareholders agreement in Nairobi, with the first phase of the Mombasa Industrial Park set to cover 40 ha.DP World has not disclosed the equity split, total investment value or construction timetable.

The project is located less than 20 km from the Port of Mombasa and is designed to combine industrial, warehousing and logistics infrastructure with access to Kenya’s main maritime gateway.

More than 60 local and international companies have expressed interest in taking space at the site, according to DP World.

The Dubai-headquartered group originally agreed with GulfCap in early August to develop the 222-ha site in phases. The new shareholders agreement establishes the corporate structure that will carry the project forward.

DP World said the park will target manufacturers, distributors and logistics companies looking to serve Kenya and wider East African markets, linking industrial activity more closely with Mombasa’s port infrastructure.

The investment comes as Kenya pursues a broader overhaul of its port sector. Splash reported late last month that the government had moved several Mombasa and Lamu assets into competitive procurement, including Mombasa Container Terminal 1 and berths 11 to 14, as it looks to bring more private capital into port operations.