• About Us
  • Archives
  • SWG Registration
Samrack Media
Mahiga Homes
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events
No Result
View All Result
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events
No Result
View All Result
Samrack Media
No Result
View All Result

Uhuru heads to France to sign Sh180bn loan

samrack by samrack
September 29, 2020
in Africa, Business, Diaspora, Kenya, Kenya Diaspora News, News, U.S Diaspora
A A
0
Uhuru heads to France to sign Sh180bn loan
Share this
FacebookXPinterestEmailWhatsAppLinkedIn

President Uhuru Kenyatta and France President Emmanuel Macron (left) at State House, Nairobi on March 13, 2019 

Uhuru heads to France to sign Sh180bn loan

  • This will be the President’s first trip post Covid-19 pandemic, which saw the Kenyan airspace closed for both domestic and international flights.
  • The company won the multibillion-shilling contract in a government-to-government deal that formed part of President Kenyatta’s discussions with President Donald Trump during his US visit in 2018.

President Uhuru Kenyatta is expected to leave for Paris tomorrow, where he will take billions of shillings in debt for a road project.

The Head of State is scheduled to sign a public private partnership (PPP) deal worth Sh180 billion for dualling of the 190-kilometer Rironi-Nakuru-Mau Summit Road.

This will be the President’s first trip post Covid-19 pandemic, which saw the Kenyan airspace closed for both domestic and international flights.

The Nation understands that the President will meet his French counterpart Emmanuel Macron at the Élysée Palace in Paris, where they will sign and preside over the inking of several PPP agreements on water, infrastructure and energy. Mr Macron was in Nairobi in March last year on a State visit.

Kenya’s signing of the tolling concession pact with a consortium of French firms under Rift Valley Connect led by Meridiam Infrastructure Africa Fund will unlock the funding of the road, which once complete will be the country’s first toll highway outside Nairobi.

The road, a key segment of the Northern Corridor, is expected to significantly cut the travel time for both people and goods, reducing the cost of doing business. It will also compliment the standard gauge railway (SGR) services between Naivasha and Malaba Border.

Awarded tender

Last year, the Kenya National Highways Authority (KeNHA) awarded the tender for the road to French firm Meridiam International, with others in the consortium including Vinci Highways SAS and Vinci Concessions SA.

The project is expected to be undertaken on a PPP basis that will see the consortium raise finances for the road, design, construct, maintain and operate the road on pre-agreed standards and specifications.

Sources told the Nation that a tolling fund is expected to be established later this year.

“The modalities of the agreement, or of the establishment of the tolling fund are not known yet,” a source with knowledge of the matter said.

Efforts to get a clarification over the matter from Transport Cabinet Secretary James Macharia were futile as he was unavailable on phone.

But in an earlier interview, Mr Macharia told the Nation that the Cabinet had decided to prioritise two PPP’s project in order to ease the nightmare for users between Jomo Kenyatta International Airport and Westlands, and those who use the Nairobi-Naivasha-Nakuru highway.

“We decided to give priority to two Public Private Partnership projects,” he said.

Under the PPP model, investors are expected to raise finances for the two road projects and design, construct, maintain and operate them on pre-agreed standards and specifications. The concession for both roads has been capped at 30 years.

Last year, KeNHA’s Director-General Peter Mundinia said the contractor will be expected to recover their funds from the road through a user fees (tolls), after designing, building, and maintaining it within the agreed time-frame. It is also understood that the contractor will be granted the operation and maintenance of the Southern Bypass, including the Gitaru to Rironi segment within Kiambu County.

As per the contract, the Rironi-Mau Summit project will see the contractor expand the 175 kilometres between Rironi in Limuru to Mau Summit in Nakuru County into a four-lane dual carriageway.

It will also entail the re-carpeting of Rironi–Mai Mahiu– Naivasha road.

Sh59 billion

This will be the second road the country has signed PPP on after it handed over the Sh59 billion JKIA-Westland’s Expressway to China Road and Bridge Corporation.

The road, which is currently under construction, will also entail a toll station to allow for the contractor to recoup their investment. It is expected to be complete by the end of next year.

In October last year, Kenya suspended the construction of the Sh300 billion Nairobi-Mombasa expressway for two years over the country’s debt concerns.

It would have been Kenya’s first expressway and the largest single-contract road project.

The project, modelled to complement the Sh327 billion SGR, was to be undertaken by Bechtel, a US-based private construction conglomerate.

The company won the multibillion-shilling contract in a government-to-government deal that formed part of President Kenyatta’s discussions with President Donald Trump during his US visit in 2018.

Mr Macharia said the Cabinet had decided to suspend the project for at least two years to allow the country’s debt levels to drop, while also prioritising other key projects.

Source:https://nation.africa/

 

Tags: Uhuru heads to France to sign Sh180bn loan heads to France to sign Sh180bn loan
Previous Post

After 9 Years Working Abroad, Kenyan Woman Returns Home Broke, But Says She is Happy

Next Post

The Secret Lives of Omar Lali & Tecra Muigai; events before her untimely death

Related Posts

Dr.Caroline Mumbi Waweru Wayoike Doctorate in nursing practice minor in education from Capella University. DNP MSN BSN RN.
Announcement

Capella University Celebrates Dr. Caroline Mumbi Waweru Wanyoike’s Remarkable Academic Achievements

September 27, 2023
King Charles III
Diaspora

Royal Visit:King Charles III to Embark on Historic Visit to Kenya

September 26, 2023
Judy Musyoki RN, BSN,
AFRICA RISING

Congratulations to Judy Musyoki RN, BSN on Her Outstanding Graduation Achievement

September 26, 2023
LUCY KUBAI and MUBEA PAUL
Christian News

Another hit Song by our own Diaspora celebrity LUCY KUBAI and MUBEA PAUL.

September 22, 2023
Screengrab of CCTV footage that captured the suspect going over a perimeter wall circumvented with razor wire fence at Woodley Annexe on September 15, 2023.
Diaspora

How girl suspected of killing Eric Maigo escaped:Detectives have identified her as a minor aged between 15 and 17 years old.

September 22, 2023
Elsa Kiprotich, a resident of Houston, Texas,
Diaspora

Elsa Kiprotich: From Charcoal Seller to Real Estate Agent in the US

September 22, 2023
Next Post
The Secret Lives of Omar Lali & Tecra Muigai; events before her untimely death

The Secret Lives of Omar Lali & Tecra Muigai; events before her untimely death

Please login to join discussion
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Royal Gardens Ngong Royal Gardens Ngong Royal Gardens Ngong
ADVERTISEMENT

Latest News

Capella University Celebrates Dr. Caroline Mumbi Waweru Wanyoike’s Remarkable Academic Achievements

Royal Visit:King Charles III to Embark on Historic Visit to Kenya

Congratulations to Judy Musyoki RN, BSN on Her Outstanding Graduation Achievement

Another hit Song by our own Diaspora celebrity LUCY KUBAI and MUBEA PAUL.

How girl suspected of killing Eric Maigo escaped:Detectives have identified her as a minor aged between 15 and 17 years old.

Elsa Kiprotich: From Charcoal Seller to Real Estate Agent in the US

Kenyan Student Orville Kimutai Dies While Swimming in Western Australia

Kenyans Who Won US DV 2023 Green Card Blocked From Migrating to America

Transition/Death Announcement of Mrs Susan Njeri Njuguna of Turi Molo

On Civilian Casualties in Sudan

We are grateful for your monthly or one-off donations To Samrack Media: Cash App No: 781-888-8770 $SAMRACK001

Money

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency

by samrack
November 19, 2021
0

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency This week sees the launch of a new initiative to equip...

A simple guide to Government Bonds investing in Kenya

A simple guide to Government Bonds investing in Kenya

by samrack
September 17, 2021
0

A simple guide to Government Bonds investing in Kenya A treasury bond (T-bond) is a medium term to long term...

Politics

On Civilian Casualties in Sudan

On Civilian Casualties in Sudan

by samrack
September 13, 2023
0

On Civilian Casualties in Sudan The United States is alarmed by the recent increase of indiscriminate air and artillery strikes...

President William Ruto of Kenya

Kenya reinstates small fuel subsidy in government U-turn

by samrack
August 16, 2023
0

Kenya reinstates small fuel subsidy in government U-turn Kenya has reinstated a small subsidy to stabilise retail fuel prices for...

  • About Us
  • Archives
  • SWG Registration

© 2023 SAMRACK - Diaspora News & Updates; design by: Samrack.

No Result
View All Result
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events

© 2023 SAMRACK - Diaspora News & Updates; design by: Samrack.

Page generated in 1.023 seconds. Stats plugin by www.blog.ca