Saturday, June 15, 2024

Kenya, US sign huge highway construction deal

Indepth

- Advertisement -

Instruction of Kenya’s Nairobi-Mombasa expressway also known as Usahihi Expressway has received financial impetus with the signing of a major deal to allow construction work to start.

Kenya’s highways Authority(KenHA) and U.S. infrastructure investment manager Everstrong Capital have signed a $3.6 billion (about Sh471 billion) agreement to build the 440 km (273 miles) highway between the capital Nairobi and the port city Mombasa.

Under a 30-year concession, Everstrong Capital LLC will manage the entire lifecycle of the Mombasa Expressway, from construction to tolling and maintenance. A game-changer for Kenyan transportation.

The USAHIHI Nairobi-Mombasa Expressway is poised to deliver significant time and cost savings to its users, but more notably, it will facilitate the secure, efficient, and comfortable movement of people and goods within East Africa.

Upon completion, the project will be largest toll road project in Africa and envisions a transformative symbol of Kenya’s dedication to transparent and innovative infrastructure development, serving as a testament to the strengthened partnership between the United States and Kenya.

It is structured as a Public Private Partnership with revenue coming from road users. Usahihi will organize finance, construction, tolling, operation, and maintenance of the expressway under a 30-year concession with construction lasting 3-4 years.

Usahihi expressway details

The expressway is engineered to accommodate the safe passage of trucks, buses, and automobiles, featuring rest stops, wildlife observation points, electric vehicle charging infrastructure powered by renewable energy sources, and strategically located overpasses designed by environmental experts based on animal migration patterns to facilitate safe wildlife migration.

Amb. Kyle McCarter, Everstrong Capital Partner & Usahihi Chairman says, “The Usahihi Expressway isn’t just a project; it’s a testament to the transformational power of doing things right.

It symbolizes passion, commitment, and transparency, demonstrating how to deliver immense value, not only to Kenyan citizens but to the entire East Africa region. It’s about changing lives and shaping the future of Kenya.”

Everstrong Capital, established in 2015, is a US-owned infrastructure investment manager with a presence in both the US and Kenya with a focus on advancing sustainable infrastructure development across Africa.

Also Read

New special economic zone area opened in Durban

Tanzania seeks partners for its $40B LNG project, gas prospects

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Travel

The Africa Logistics

The Africa Logistics is a print and online portal that offers latest news and firsthand information in the logistics industry.

More

NEWS

Social

© Copyright 2024, The Africa Logistics. All Rights Reserved