Tuesday, April 25, 2017

Kenya signs $5.42B railway extension deal with Chinese firm

Kenya signs $5.42B railway extension deal

with Chinese firm

April 5, 2016

Kenya recently signed a multi-billion dollar agreement with China Communications Construction Company (CCCC) to extend the country’s rail network, adding to a swathe of infrastructure deals in Africa won by Chinese firms.
The first phase of a cross-country rail project in East Africa’s largest economy is expected to link the Indian Ocean port of Mombasa to Nairobi from mid-2017.
In December, the Kenyan government, seeking to reduce transportation costs and boost trade, secured a $1.5 billion loan — also from China — to extend the track from the capital to the Rift Valley town of Naivasha.