New EAC railway line
25 July 2013, 17:29
Nairobi - The Kenya, Uganda and Rwanda governments will invest KES 1.2 trillion in a joint cash mobilization venture to finance a dual truck, 2,937 kilometres (KM) Standard Gauge Railway (SGR).
Following a consultative forum with the respective ministers responsible for transport from the three countries in Nairobi on Wednesday, Roads and Infrastructure Cabinet secretary Michael Kamau said that the expected cost is split into infrastructure at KES 1.004 trillion and that each member state will commit the undertaking of SGR developments in their country within their stipulated timeline, Capital News reports.
The Kenyan Government has introduced a Railway Development Fund which is a levy of 1.5 percent of the cost of import freights in the current financial year, for the development of the SGR that is scheduled to be completed by January 2018.
- For more visit Capital News
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