The African Development Bank is set to lend Kenya Sh17.73 billion to rehabilitate the Nairobi-Nakuru-Mau Summit route.
The bank announced on July 15 that its board of directors had approved Sh17,731,500,000 ($150 million) for public-private partnership financing.
The 175 kilometres road will run from Rironi to Mau Summit, becoming a four-lane dual carriageway, and 57.8 kilometres from Rironi to Naivasha.
“The roads also form part of the strategic Northern Corridor, which is the busiest trade and transport corridor in East Africa, providing gateway access to Kenya’s landlocked neighbouring countries,” the bank said.
The route is critical in connecting the country’s western area, which serves as a gateway to Uganda, the Democratic Republic of the Congo, and other regional landlocked countries.
The loan will be managed by Rift Valley Highways Limited, which is owned by Vinci Group and Meridiam Infrastructure Africa Fund and entered a PPP concession agreement with the Kenya National Highways Authority in September 2020 to design, build, finance, operate, maintain, and transfer the two highways over a 30-year period.
According to the bank, the project will create 1,500 employment opportunities during construction and 200 throughout operation. It will feature at least 40 per cent local content in the form of labour and materials sourced locally.