Government receives Sh1 billion for LAPSSET project
By Patrick Beja | March 13th 2017
LAMU, KENYA: Efforts by the national government to attract a private firm to invest in the Lamu port project LAPSSET got a boost after it received Sh.1b shilling grant to package the project as an ideal investment venture.
The grant from the Africa's Development Infrastructure Project Preparation Facility (NEPAD-IPPF) will facilitate the preparation of Lamu Port Project (LPP) for making it a viable venture for investment by private firms.
Lamu Port Project which is part of Lamu Port Southern Sudan Ethiopia Transit (LAPSSET) corridor is seeking to transit into a Public Private Partnership (PPP).
According to LAPSSET Authority Director General Silvester Kasuku, the three berths and causeway, which is financed by the government, is over 20 percent complete.
"The cost for the Short-term Plan, including the first 3 Berths in the Urgent Plan of Lamu Port, is estimated at Sh.68.9 billion (US$ 689m)," said Kasuku.
On Friday President Uhuru Kenyatta announced that the government will construct a railway line to connect Lamu Port to the Standard Gauge Railway SGR along the Northern Corridor.
Already the construction of sh10.8 billion Garsen-Witu-Lamu road has begun which will connect the port to the Isiolo-Moyale road which is already complete.
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