Volvo Group will be putting up a 2.5-billion-shilling assembly plant in Mombasa and it might start operations early 2018.
In an interview with Capital FM Business, the Company’s President Claes Nilsson said that they want to explore the East African market through the plant, adding that they also wish to be producing a total of 500 units every year by the time they start operations.
Nilsson disclosed that the move to invest in Mombasa came about after they realized that the region has great opportunities and the potential for growth, adding that there are also a lot of different resources in place brought about by the diverse production of different products and natural resources.
With the plant in Kenya, almost 300 hundred direct job opportunities are going to be created, together with other opportunities that will come about indirectly.
“We have been in East Africa for the last three decades and believe that there is a significant potential for the premium truck business as regional economies grow, infrastructure investments expand and the business environment remains investment friendly,” said Nilsson.
Volvo Trucks regional office has been opened in Nairobi which will be responsible for expanding the footprint of the brand in East Africa.
This is going to be Volvo’s assembly plant in Africa, after the ones in Morocco and South Africa.