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Kiraitu in parliament

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| 14 years ago | 1 Min read

The delivery period for the development of 80 geothermal wells in Menengai may be delayed following a change of policy by Chinese development lender Exim bank. Energy minister Kiratu Murungi has revealed. Kiraitu said this when he appeared before the energy and communication parliamentary committee intimated that part of Exim banks demands included extending funding only to corporations with financial records dating back to the year 2007 with proof of ability to raise revenue, a condition that GDC the company mandated to drill the wells fails to meet. The project is predicted to inject 280mw to the national grid at aconstant annual budget of at least 20 billion shillings.