The Kenya Ports Authority (KPA) has stated that it intends to borrow US157 million to complete the fi rst phase construction of its new Lamu Port.
The first phase covers the construction of three berths and associated yard infrastructure now largely complete.
The new loan will provide US$29 million for the completion of construction works, US$28 million for marine equipment, US$55 million towards the purchase of yard operating equipment and US$45 million towards general equipment, security systems etc.
Since its formal opening in May this year the port has seen only relatively few vessel calls – the lack of equipment being cited as one of the main causes of this. This new loan is intended to be used to put the port on a better operational footing.
Over time it is expected that the private sector will undertake future multiple new berth developments.
