World Bank signs loan deal for Kenya airport construction
News that the World Bank has signed a major loan deal with the Kenya government worth 17.5 billion Kenya Shillings, all due to be channeled into the reconstruction and expansion of facilities at the region’s main airport, Jomo Kenyatta International, will be received with some relief by the aviation fraternity currently working under difficult conditions at the airport since the fire last year in August destroyed the entire arrivals section.
The World Bank’s country director yesterday confirmed that the deal was signed, which should allow the Kenya Airport Authority (KAA) to fast track tender awards now that funds have been made available.
No details about the grace period, the level of interest or the repayment period could be obtained but it is thought that the interest rates will be hugely preferential over any form of commercial borrowing or even project finance arranged by contractors.
ARM announces new Kenyan plant to counter Dangote's advances
ARM Cement is set to build Kenya's largest cement plant in Kitui County, setting it up for a fight with Nigeria's Dangote Cement, which also has plans to open a U$400m plant in the same region.
ARM says that it will raise up to US$300m to fund new plants including the planned unit in Kitui, which will produce 8000t/day (~2.5Mt/yr) of cement.
Sri Lanka, Kenya sign eight agreements to cement ties
Sri Lanka President Mahinda Rajapakse returned yesterday after undertaking a tour of Kenya where the two countries entered into eight agreements to strengthen relations, President’s Office said.
Rajapakse attended the 50th anniversary celebrations of Kenya’s independence.
A concrete solution to making greener building materials
For every 20 tonnes of carbon dioxide that enter the atmosphere due to human activity, one comes from the kilns of cement factories.
It is a paradox – concrete is arguably the most sustainable building material known to man, yet the sheer quantity produced worldwide puts it among the top contributors of human CO2 emissions.
