M a r k e t N e w s

Government to invest Ksh. 3.2 Billion on Oil infrastructure, KTN Prime 21st September 2016

Posted on : Thursday, 22nd September 2016

 The ministry of infrastructure is set to spend 3.2 billion shillings in constructing requisite infrastructure that will pave the way for Kenya to start exporting oil come June 2017. According to roads principal secretary Eng. John Mosonik, plans are underway to rehabilitate the Eldoret Lokichar road in preparation for the harvesting of early oil in Turkana.

Stakeholders in the petroleum sector have expressed concern over the pace of development of key infrastructure along the corridor, calling on the government to fast-track the implementation.

According to Powell Maimba chairman of the petroleum institute of East Africa, Kenya is at the cusp of a major economic transition following discoveries of commercial oil which is expected to earn the country new revenue lines estimated to be in the billions. 

Source : www.standardmedia.co.ke
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