Major grant signed for Mombasa port modernisation

Major grant signed for Mombasa port modernisation

Major grant signed for Mombasa port modernisation

from MARIA MACHARIA in Nairobi, Kenya
NAIROBI, (CAJ News) – THE United Kingdom’s Department for International Development (DFID) and TradeMark East Africa (TMEA) have signed a £23million (Sh3,5 billion) grant agreement towards the modernisation work at the port of Mombasa.

This includes infrastructure investments aimed at addressing energy efficiency, speed up import and export trade handling and minimise environmental impacts at the port of Mombasa.

This additional support now brings total DFID funding towards the port to £63 million, further demonstrating UK’s support to Kenya’s development.

Speaking at the event, the Deputy Head of Department for International Development (DFID), Tony Gardner said the expansion of the port modernization work at the port of Mombasa would take into account environmental and social aspects and this will go a long way in complementing existing projects, and in expanding the flow of benefits to stakeholders, including the population of Mombasa and the wider East Africa Community residents.

TradeMark East Africa Director, General David Stanton, said the UK government was TMEA’s largest investor and continues to be a key ally in promoting regional and economic integration in East Africa.

This project aims at minimising environmental impacts whilst addressing energy efficiencies, according to Stanton.

“This investment is among many projects that TMEA is spearheading through the UK government support at the Mombasa Port to enhance trade environment in the region since East Africa has amongst the highest freight and transport costs in the world.

“These costs seriously erode the marginal competitiveness of goods exported by East African countries, reducing trade, economic growth, job creation and poverty reduction,” he said.

The port of Mombasa is the gateway to East and Central Africa, serving close to 250 million people along the Northern Corridor.

It is envisaged the funding will add to the cost reductions targets under the current Mombasa port improvement programme and will contribute to reducing carbon emissions, increasing energy technologies within the port thereby improving workforce productivity.

Through TMEA, UK and its seven other development partners are currently spending about US$700 million on reducing barriers to trade and accelerating regional economic integration in the East African Community (EAC).

Improvements at the port of Mombasa are critical to increasing regional trade in the EAC with benefits that include reductions in the cost of goods of up 40 percent.

– CAJ News

 

 

 

 

 

 

Short URL: http://cajnewsafrica.com/?p=5986

Posted by on May 22 2015. Filed under Africa & World, Electricity, Energy, Engineering, Featured, Finance, Finance & Banking, Mining & Engineering, News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

CAJ News Sponsored Links

Commonwealth Technology Organisation

Connect to CAJ News on Facebook

Subscribe to our Newsletter

Photo Gallery

Log in
All material © CAJ News Africa. Material may not be published or reproduced in any form without prior written permission.