Gov’t to Raise KSh21B From Private Investors for Gauge Railway
Kenya is set to raise $210 million (KSh21 billion) from private investors for the purposes of restoring the old Gauge Railway.
This comes after the government’s plan to have the Standard Gauge Railway running from Mombasa to Uganda failed due to lack of funds and hence stopping at Naivasha.
The 43-kilometer meter gauge line linking the new Standard Gauge with the old railway line will see the country spending $60 million (KSh6 billion) to have it done.
According to the Transport Cabinet Secretary, the country will be spending $150 million (KSh15 billion) to have the old railway line restored from Naivasha port to Malaba town at the border of Kenya and Uganda.
“We are looking for options for the railway, we prefer the private sector, so there’s no impact on the country’s debt,” said the Cabinet Secretary.
According to Uganda’s Transport Minister, their plans to construct Malaba-Kampala standard gauge will have to be postponed as Kenya’s plan to seek a $3.6 billion (~KSh364 billion) loan from China for the last phase of the project did not bear fruits.
“In order for Uganda to start the actual construction we have to wait until Kenya has got somewhere so that as we do the SGR on the Uganda side, we arrive at Malaba at the same time,” said Uganda’s Transport Minister Monica Ntege.
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