Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

Kenya

Mombasa port modernisation hastened

NAIROBI, July 18 – The Government has assured investors that modernisation of the port of Mombasa would be fast-tracked to enable the facility cope with rising volume of cargo.

Vice President Kalonzo Musyoka said the congestion in the port was worrying many business owners in the country and those from the Great Lakers region.

He noted that it was for that reason the cabinet approved the modernisation programmes and the building of a second container terminal at the port by 2015.
 
The Vice President made the remarks at his Jogoo House Office Friday when he held talks with the visiting Maersk Group World Wide CEO Nils S. Andersen, who paid him a courtesy call.
 
The modernisation programme is jointly funded by the government of and Japan Sh5 billion and Sh16 billion respectively.
 
Musyoka assured investors of security and a conducive investment environment.
 
Andersen said that the private and public partnership initiatives would provide stop-gap measure before the modernisation programme is completed.
 
“Private-Public partnership is the way to improving handling of cargo at the Port of Mombasa and movement of goods in East Africa and the Great Lakes Region,” he added.
 
The CEO expressed hope that the port would be dredged to allow larger ships to dock.
 
The Maersk Group has 55 Container Terminals in the World, 8 in Africa and is also involved in drilling of oil in North Sea, Nigeria and Qatar.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...