Jan 12 2011
GreenWorld Development, Inc., (OTCBB:FRXP) a developing player in the global market for environmental and energy products, is in joint venture discussions with Kenya and a US renewable energy company, to build a factory in or near Nairobi/Kenya, for manufacturing of panels and building blocks, which will be used in the contribution of affordable, energy conserving, and rapid assembly houses and apartments.
“This will further enhance our position in the promising East African emerging markets,” GreenWorld CEO Leo J. Heinl says. GreenWorld is already present in neighboring Uganda, and is hoping to replicate the home building facilities in other East African Community countries.
As at May 2010, economic prospects are positive with 4-5% GDP growth expected, largely because of expansions in tourism, telecommunications, transport, construction and a recovery in agriculture. These improvements are supported by a large pool of English speaking professional workers. There is a high level of computer literacy, especially among the youth.
Investment projects registered by local investors grew by 33% from Sh79 billion to Sh104.4 billion in the year ending June 2010.
Source: http://www.greenworld-global.com/