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AfDB gives Sh195m grant for Lamu Port

March 17, 2017

By Weitere Mwita

(The Star) Efforts by the government to attract investors to help build 29 berths at the proposed Lamu port has received a boost from African Development Bank. The pan-African lender last week gave a $1.9 million (about Sh194.86 million) grant to cater for advisory services and technical support in developing a feasible plan for the port. The funds, through AfDB's New Partnership for Africa's Development Infrastructure Project Preparation Facility, will position the proposed Lamu port as an attractive venture for big-ticket investors.

The port has 32 berths whose construction cost is estimated at $5 billion (Sh512.8 billion). The cost for the first phase of the project's three berths is estimated at $689 million (Sh70.7 billion). The amount will cover dredging and reclamation, construction of berths and yards, construction of revetment, causeway and road, construction of buildings and utilities, and procurement of equipment and tug boats among others...

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Read More At The Star:  http://www.the-star.co.ke/news/2017/03/13/afdb-gives-sh195m-grant-for-lamu-port_c1521828