Toyota and Vision 2030 board sign MOU

Japanese automaker Toyota to fund national flagship projects, Vision 2030

Toyota’s trade, investment and logistics arm, Toyota Tsusho Corporation (TTC) and the Vision 2030 delivery board, on Wednesday signed a memorandum of understanding where Toyota will intensify investments in automobile, logistics, power and energy, mineral resource, environmental infrastructure, and food production and processing.

Currently TTC has an agreement with the Government of Kenya to build an oil pipeline linking Kenya’s Lamu to South Sudan as part of the multi-billion dollar Lamu Port Southern Sudan and Ethiopia Transport Corridor (LAPSSET). The corridor is part of Kenya’s Vision 2030 flagship projects.

In promoting food production, TTC in collaboration with the Japanese International Cooperation Agency (JICA) will supply machinery to farmers in Mwea, the largest rice irrigation scheme in the country, located in Kirinyaga County.

Logistics centre 

The automaker is also set to establish a 1.28 billion-shilling logistics centre in Nairobi, which will serve 13 nations in the sub-Saharan region with direct sourcing of vehicles from Japan. The regional vehicle logistics centre and parts depot will be situated in South C, Nairobi.

The facility will also offer both managerial and mechanical courses for prospective employees, through an in-house technical teaching centre said Toyota Kenya’s chairperson Amb. Dennis Awori.

Kenya becomes the first country in Africa to sign a formal agreement to cooperate in the development of major investments.

TTC is a fully-fledged Japanese trading house operating diverse businesses spanning exploration, mining, distribution, processing, automotive, chemicals, electronics, machinery, and energy.