President Uhuru Kenyatta witnessing the signing of a deal between PSA Group official and National Treasury Cabinet Secretary Henry Rotich on Saturday.
Peugeot Group have signed a contract to begin assembling Peugeot vehicles in Kenya. French automotive manufacturer PSA Group, the maker of Peugeot, Citroen and DS cars wants to reduce its dependence on European sales with the assembling of the Peugeot 508 and 3008 models from kits of pre-assembled modules with local partner URYSIA, its long-standing Kenyan importer and distributor.
PSA said the venture will initially produce about 1,000 vehicles annually. The Peugeot brand previously assembled vehicles in Kenya between 1974 and 2002.
President Kenyatta said Kenya’s manufacturing output grew 3.5 per cent last year , signalling the revival of the industry, and its return to regional dominance.
From Wrigley, which will invest Sh5.8 billion in a plant in Machakos, to the Volkswagen plant which opened in Thika last year, to the Pan-Paper plant which we revived just recently, industry and investment in Kenya are on the move.