BIDCO BUYS TATU CITY

Bidco Oil Refineries has completed the purchase of a 78 acre plot from the controversy-ridden Sh240 billion Tatu City project in Ruiru, Kiambu, becoming the latest company after Dormans, Kim-Fay and Maxam to do so. Dormans recently acquired 10 acres of the estate to construct its global headquarters.

Bidco CEO Vimal Shah was in May reinstated as a director of Tatu City along with former Central Bank Governor Nahashon Nyaga following their ouster by the multi-billion shilling project's foreign directors.

The High Court reinstated them after finding that their replacement on the board was in contravention of the articles of Tatu City.

The 2,500 acre mega-project targets residents, companies and retailers wishing to live and work in a modern development away from the Nairobi city centre and is expected to accommodate 70,000 residents on completion, its planners say.

The project's development, however, has been slowed down by legal battles between Tatu's Kenyan and foreign directors.