Big money is finally hitting the coast after decades of stalling on this mega project because Minister Kitila Mkumbo just announced that the Bagamoyo Eco-Maritime City in the Coast Region is officially a go with six companies securing licenses to drop over 180 billion shillings into the zone. The government plans to turn the area into a massive logistics hub by sinking 8.5 trillion shillings total into the thing, while TISEZA boss Gilead Teri confirmed that Canary Industries and five additional firms are set to start building immediately to create what might be the largest port in East Africa.
Teri listed the players involved, like MCGA Auto Limited, which plans to spend 50 million US dollars on assembling cars, and Shah Steel Global, which is putting up 5 million bucks for ferro-alloy stuff. He mentioned Novara Global Steel dropping 8 million dollars on iron products and Grosso Engineering spending 5.2 million for galvanizing metal. Jaribu Cashews Production Limited intends to use 5 million dollars for processing crops, while Canary Industries is starting small with 1 billion shillings for packaging food.
Mkumbo claims the first batch of businesses will open doors by late 2026, and he insists this matches the ruling party's manifesto about fixing the economy. He mentioned that sixty extra plots are sitting there waiting for buyers. The politician believes this creates jobs and brings in tech, while Bagamoyo MP Subira Mgalu is just relieved that the twenty-year wait is over. She hopes the local kids actually get hired when the factories open.
The agency director warned that these investors have exactly one year to get moving, or he will pull their permits because the state wants real results this time. He thinks the car factory alone will hire nearly a thousand people directly and help cut down on imports. The goal is to fill the zone with both local and international cash until it hits that massive trillion shilling target.
Teri listed the players involved, like MCGA Auto Limited, which plans to spend 50 million US dollars on assembling cars, and Shah Steel Global, which is putting up 5 million bucks for ferro-alloy stuff. He mentioned Novara Global Steel dropping 8 million dollars on iron products and Grosso Engineering spending 5.2 million for galvanizing metal. Jaribu Cashews Production Limited intends to use 5 million dollars for processing crops, while Canary Industries is starting small with 1 billion shillings for packaging food.
Mkumbo claims the first batch of businesses will open doors by late 2026, and he insists this matches the ruling party's manifesto about fixing the economy. He mentioned that sixty extra plots are sitting there waiting for buyers. The politician believes this creates jobs and brings in tech, while Bagamoyo MP Subira Mgalu is just relieved that the twenty-year wait is over. She hopes the local kids actually get hired when the factories open.
The agency director warned that these investors have exactly one year to get moving, or he will pull their permits because the state wants real results this time. He thinks the car factory alone will hire nearly a thousand people directly and help cut down on imports. The goal is to fill the zone with both local and international cash until it hits that massive trillion shilling target.
