State appeals to investors to finance the LAPSSET Corridor project

Last Updated 14 years ago by Kenya Engineer

Kenyan leaders continue to urge for investors to help finance the implementation of Kenya’s biggest infrastructure project, the Sh2 trillion LAPSSET Corridor.

“We appeal to our partners to work together in this line”, said the Prime Minister in the forum.

He was speaking during the fourth development partnership forum held in Nairobi early this week.The president had earlier made the same remarks to possible investors. He pointed that the completion of the new transport corridor development to Southern Sudan and Ethiopia would dramatically alter the entire African continent.

The primer said that the government had organized an investor conference in September to drum up support for the project whose implementation would make intra Africa trade a reality. The project is expected to transform regional economies through increased trade, intergration and inter-connectivity.

Infrastructure is a major component of attracting investors into the country and thus the government is keen on investing much on the country’s infrastructure. In this year’s budget, the road infrastructure was awarded Ksh.123.6 billion an increment from last year’s budget.

The project opened by three heads of State early this year seeks to integrate the economies of Southern Sudan, Ethiopia, East and Central Africa as well as open up the region to global trade opportunities. It will comprise of a railway line, oil refinery, oil pipeline, airport, highways and resort cities.

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