South Korean investors keen on LAPSSET project

September 19, 2014
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The delegation from Lamu Port South Sudan Ethiopia Transport (LAPSSET) Corridor Projects Corridor Development Authority held a series of meetings with the investors to discuss prospects and how to invest in Kenya/file
The delegation from Lamu Port South Sudan Ethiopia Transport (LAPSSET) Corridor Projects Corridor Development Authority held a series of meetings with the investors to discuss prospects and how to invest in Kenya/file
NAIROBI, Kenya Sept 19 – South Korean investors have developed deep interest in Kenya following the country’s progressive policies in infrastructure and services sectors.

Lamu Port South Sudan Ethiopia Transport (LAPSSET) Corridor Development Authority Director General Silvester Kasuku says the investors have a huge interest in the LAPSSET Corridor project following his presentation on ‘Investment Opportunities in the LAPSSET Corridor Programme’ to over 600 prime investors during the Global Infrastructure Cooperation Conference in Seoul.

The Kenyan delegation from LAPSSET Corridor Development Authority led by the Kasuku held a series of meetings with the investors to discuss prospects and how to invest in Kenya.

This comes as the LAPSSET Corridor Program is poised for a major takeoff with expected commencement of the construction of the first three berths of Lamu Port this year, as well as PRE-FEED studies on the crude oil pipeline this year.

Construction of Lamu – Witu – Garsen C112 Road is expected to commence in 2015 while construction works are at an advanced stage for the 505km Isiolo – Marsabit – Turbi – Moyale Road which is expected to be completed within the next three years.

Ethiopia is also constructing approximately 500kilometre between Moyale and Hawassah in the southern part of Ethiopia while design studies are also ongoing for the Lamu – Garissa – Isiolo – Lokichar road stretch while designs are already completed for Nakodok – Lodwar – Kitale A1 road section.

Kasuku also revealed that t the government of South Korea has offered scholarships for specialized training to Government of Kenya officers working on LAPSSET Corridor Projects.

The two month training programmes will be run in Seoul beginning the fourth quarter of 2014 with field assignments in different parts of South Korea.

The courses will include field assignments in different parts of Korea will cover Design; Construction and Management of High-value Infrastructure Projects; and Master Planning of New Cities.

Besides training costs, the Government of South Korea offered to cover travel and accommodation costs for selected Government of Kenya officers.

Lauding the offer, Kasuku said: “This gesture by the Government of South Korea will go a long way towards strengthening capacity of government of Kenya officers to understand the urgency, dedication and precision in delivery of high value priority national infrastructure”.

Kenya’s position as a key East and Central Africa’s trade, transport and logistics hub was particularly augmented in an opening presentation by Business Monitor International (BMI) on global growth prospects for 2014-2018.

The BMI analysts rated Kenya as a major stabilising factor in the region with very high investment and growth prospects.

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