Kenya, Japan sign USD275m port expansion loan
(MENAFN) Officials said that Kenya and Japan have signed a USD275 million loan deal aims at funding the second phase of Mombasa port expansion, Xinhua reported.
National Treasury Cabinet Secretary said the loan will fund the development of the port expansion project that includes the construction of the new container terminal at berth Number 22.
Mombasa port is the second largest in Africa in terms of tonnage and the containers handled per year with an average of 1, 700 ships docking at the facility annually.
"The ongoing funding is a clear testimony of Japanese government's support of our infrastructure sector, whose completion will provide handling equipment to economic development," the secretary said.
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