Vinci signs US$1.5bn highway PPP in Kenya
The Republic of Kenya, through its Public Private Partnership Unit and the Kenya National Highways Authority (KeNHA), executed an agreement with Rift Valley Highway, a company owned by VINCI Highways (Lead Member), VINCI Concessions, and Meridiam SAS, for the development of the Nairobi-Nakuru-Mau Summit Highway PPP project. The signature occurred in Paris on September 30th 2020 in the presence of Emmanuel Macron, President of the French Republic, and Uhuru Kenyatta, President of the Republic of Kenya.
The project, worth about EUR1.3 billion (US$1.5 billion), will transform the existing trunk road into a 175-kilometer dual two-lane motorway. Through an availability payment based PPP, Rift Valley Highway will finance, design, widen, upgrade, operate and maintain this road corridor during 30 years. The financial close of the project is expected to occur by the end of 2021.
The construction works, scheduled to last 42 months, will be carried out with a consortium comprised of VINCI Construction subsidiaries: Sogea-Satom, locally rooted in Kenya and VINCI Construction Terrassement, specialized in large infrastructure projects. VINCI Highways, subsidiary of VINCI Concessions, will capitalize on its technical and operational expertise to implement new traffic management patterns, deploy advanced equipment and maintenance plans and provide local employees with training programs.
In one of the strongest economies in Sub Saharan Africa, this highway will improve the road safety and reduce travel time on this strategic axis between Kenya’s capital city Nairobi, Nakuru and Mau Summit. Crossing along the Rift valley, the highway will also serve as a gateway to touristic development.
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