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.
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"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.
