Promoter: The Kenya Tourist Development Corporation
Name of Project: Thika Fourteen Falls Lodge Project
The Fourteen Falls on River Chania lies just outside the Ol-Donyo Sabuk game park near the industrial town of Thika. The area is surrounded by large-scale coffee and pineapple plantations.
Project objective: To provide lodge facilities to tourists visiting the slopes of Aberdare mountains.
Project site: The project will be located 15 km East of Thika town which is adequately supplied with water, electricity and telecommunication services. A site has been identified and preliminary architectural plans have been prepared.
Project cost: The project is planned to provide 50-bed accommodation and is estimated to cost US$ 0.73 million with Kenya Tourist Development
Corporation (KTDC) commitment of US$3, 636 for pre-operational expenses.
Promoter’s expectations: Foreign cooperation is sought in form of equity participation (40% of the investment), technical and management arrangement.
Sector profile:
The tourism sector has made recovery following the post election turmoil witnessed in 2008, and the weakened global economy.
The sector experienced historical growth by 2007 when earnings hit the $1 billion mark and international arrivals totalled two million.
Tourism has enormous potential and ongoing promotion efforts have given rise to many investment opportunities in developing new hotels and recreational properties, expanding existing facilities and upgrading infrastructure.
Investors still showed confidence in Kenya as a safe place in which to invest - the country had the biggest increase worldwide in foreign direct investment during 2008. Data from fDi Intelligence showed a 1150% increase in FDI, the highest of any country monitored in the year.
For further information on the Thika Fourteen Falls Lodge Project contact the KTDC.
Key contact: Julie Njeru
Acting Chief Executive, KTDC
Email: info@ktdc.co.ke
Website: http://www.ktdc.co.ke/
