Kenya Breaking News, Business Information, Articles, Africa - kenyadetails

Road construction in Kenya: IFC reached for support

Kenya is now in negotiations with International Finance Corporation (IFC ) for a line of credit of $1.5 billion. The credit is aimed at financing road construction in Kenya.

The road in question is part of the construction of 4,000km of urban roads. In addition, it will be used to fund 6,000 kilometres of rural roads earmarked for funding from state coffers.

Nevertheless, government plans to raise $5.5 billion to be able to complete 10,000km of road construction in Kenya. This follows a move by local banks to decline a request to lend the money to the contractors.


Kenya and Ethiopia agree to construct joint crude oil pipeline

Kenya and Ethiopia have agreed on a deal that will see them construct a joint crude oil pipeline linking the two countries, this is after Uganda chose to export her oil through Tanzania’s Tanga port. The oil pipeline will run from Kenya’s coastal town of Lamu to Ethiopia’s capital city, Addis Ababa.

The deal was signed following billateral talks between President Uhuru Kenyatta Ethiopia’s Prime Minister Hailemariam Desalegn during his three day state visit to Nairobi. The deal is part of a joint infrastructure project to incorporate the region under the Lamu Port- Southern Sudan -Ethiopia Transport corridor (Lapsset).


Chinese firm Wu Yi to carry out major road expansion in Kenya

China Wu Yi, a Chinese based firm is now expected to carry out a major road expansion in Kenya in the next few weeks.

China Wu Yi won the U$158Million project to expand the a 25km stretch of Waiyaki Way starting from James Gichuru Road junction to Mai Mahiu turnoff on the Nairobi-Nakuru highway.

The road expansion in Kenya which is expected to reduce the frequent traffic jams experienced in Kenya’s capital Nairobi is part of the World Bank-funded mega roads expansion project.

The other project that is in the World Bank mission is to converse of the 45.2km road between the Jomo Kenyatta International Airport (JKIA) and Rironi into a superhighway.


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