M a r k e t N e w s
UK grants investment into infrastucture construction in Kenya
Posted on : Thursday, 25th June 2015
The UK has agreed to provide a US$5mn grant to TradeMark East Africa for the construction of proper roads between Kenya’s Moi International Airport and Mombasa Port. The road upgrade is expected to begin in April 2015 and go on until June 2016. The funds will be used to upgrade the Port Reitz or airport road into a dual carriageway, which would ease movement of cargo and people to and from the sea and airport.
Frank Matsaert, chief executive of TradeMark East Africa, said, “The region has among the highest freight and transport costs in the world. These costs seriously erode the marginal competitiveness of goods exported by the EAC countries reducing trade, economic growth, job creation and poverty reduction.”
The project, expected to begin in April 2015 and carry on until June 2016, would include widening existing roads, improving traffic intersection and installation of traffic lights. A two-metre long sidewalk would be constructed, in addition to drainage facilities, roads signs and markings.
The grant provided by the UK is in addition to the US$50mn investment made via the Department for International Development (DfID) in TradeMark East Africa’s Mombasa Port Improvement Programme.
DfID officials said that the upgradation of the 5.3km stretch from Port Reitz and Moi International Airport is part of their efforts to improve development works on the Northern transport corridor. Once the upgrade has been completed, traffic would ease out and reduce time taken to access the port.
Source : africanreview.com
