Kenya signs US$480m deal for new berths in Lamu
The President of Kenya Uhuru Kenyatta has signed a US$480m deal with China Communication Construction Company Group to build 3 berths at Lamu Port. The berths are part of the 32 berths expected to be constructed in the port complex.
US$50 million has already been set aside by the Kenyan government for the commencement of the project. This is part of the Lamu-Port-South Sudan-Ethiopia Transport Corridor Project (LAPSSET), expected to be ready in 2030.
The deal is major advancement for the LAPSSET project which is meant to supplement the Northern Corridor that handles most of the Kenya’s transit cargo. The LAPPSET project will connect the East and West coast of Africa. The total cost of the project stands at US$24bn.
The president indicated the government’s commitment in realising the LAPSSET project and hoped that the partnership will encourage private investors to become involved in constructiing the remaining 29 berths.
The project will not only improve the economy of Kenya but also the lives of the people living along the transport corridor.
The Port of Lamu will handle 24 million tons of cargo once the project is complete.
The Port of Lamu where the three berths will be constructed
Read the full article here: http://constructionreviewonline.com/2014/08/11/kenya-signs-us480m-deal-construction-3-berths-lamu/