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Uganda to prioritize infrastructure financing at FOCAC Beijing summit
Source: Xinhua| 2018-08-17 12:58:38|Editor: Chengcheng
KAMPALA, Aug. 16 (Xinhua) -- Uganda will focus on infrastructure financing when its delegation attends the Forum on China-Africa Cooperation (FOCAC) Beijing summit this September.
The country continues to prioritize infrastructure development in its partnership with China, David Bahati, minister of state for finance, planning and economic development told Xinhua in an interview on Thursday.
"We are looking at the financing terms of these projects, especially the requirement of counterpart funding. It would also be something that we need to talk about," Bahati said on the sidelines of the second annual Uganda-China Economic and Trade Cooperation Forum held here.
Speaking at the meeting that brought together Chinese enterprises, government officials and economists, Zheng Zhuqiang, Chinese ambassador to Uganda, said the upcoming FOCAC meeting will generate new opportunities for Uganda and Africa.
Uganda is now focusing on the construction of the Standard Gauge Railway (SGR) with help from China, President Yoweri Museveni said at the opening ceremony of the business meeting.
Once completed, the railway will cut domestic transport costs and thus bring down production costs, the president said.
China is already assisting the construction of two major hydropower plants, Karuma and Isimba, both critical for ensuring Uganda adequate power for industrialization, he added.
Uganda has 2.1 billion U.S. dollars alloted to infrastructure in the 2018/19 financial year, Monica Azuba Ntege, minister of works and transport said at the meeting.
Infrastructure development is one of the key factors making Uganda a competitive upper middle-income country by 2040, she said.
Albert Saltson, the CEO of Standard Chartered Bank Uganda, said commercial banks can arrange long-term financial solutions which can help the government get credit for infrastructure development.
China has been committed to partnership with African countries. At the 2015 FOCAC held in South Africa, China pledged a 60-billion-U.S.-dollar fund to fast track the development of Africa with industrialization and infrastructure topping the agenda.
Uganda to prioritize infrastructure financing at FOCAC Beijing summit - Xinhua | English.news.cn
Kenya to sign $3.8b SGR deal next month
Thursday August 23 2018
A passenger train arrives in Nairobi. Kenya is expected to sign a $3.8 billion contract for the second phase of the Standard Gauge Railway in September. PHOTO | FILE | NATION MEDIA GROUP
In Summary
By DAILY NATION
More by this Author
Kenya is expected to sign a Ksh380 billion ($3.8 billion) contract for the second phase of the Standard Gauge Railway (SGR) in September.
Transport and Infrastructure Cabinet Secretary James Macharia on Tuesday said the deal will be inked during this year’s Forum on China-Africa Corporation (FOCAC) that will be held from September 1-5 in China.
“We shall be travelling to China on the first week of September for the FOCAC summit and we shall sign the Ksh380 billion contract for the second phase of the SGR from Naivasha to Kisumu,” Mr Macharia said.
However, the CS did not name the financier of the second phase, only saying the project is a great opportunity for investors to build industries and houses along the corridor, beginning from Mombasa to Kisumu.
Speaking during the Architectural Association of Kenya annual convention at Pride Inn Hotel, the CS said the signing of the deal will put the cost of the complete project at Ksh800 billion ($8 billion).
“The Mombasa-Nairobi phase cost Kah327 billion ($3.2 billion), the extension to Naivasha cost Ksh150 billion ($1.5 billion) and the final phase will cost Ksh380 billion,” Mr Macharia said.
According to the government's plan, phase 2B of the project will start at the planned Naivasha Industrial Park where Phase 2A ends.
It will pass through Narok, Bomet, Kericho counties and terminate in Kisumu where the government will put up a modern inland port.
The railway line will have 25 stations — a county station in Kisumu, six intermediate stations and 18 crossing stations.
“The key thing about SGR is that it is the main artery of Kenya’s key development corridor, which starts from Mombasa-Nairobi; what we call the Northern corridor.
“From Nairobi, it goes to the West, and when you get to Naivasha, one branch (central line) goes through Eldoret and the other one goes to Kisumu (southern line),” he said.
A statement posted on the FOCAC website on August 1 said a contractor of the extended Nairobi-Naivasha SGR had already started laying tracks and rail sleepers as implementation of the mega project gathers steam.
The contractor — China Communications Construction Company (CCCC) — said the laying of tracks and rail sleepers is being carried out from Narok towards Nairobi.
The 120km Nairobi-Naivasha line is the first of the three segments that make up the second phase of the SGR project that ends in Malaba town located at the Kenya-Uganda border.
The site quoted Steve Zhao, the CCCC Kenya SGR project spokesman, saying the construction of the stations has been ongoing in Ongata Rongai, Ngong and Suswa towns.
“We are on course to complete the 4.5km Ngong tunnel in August, the first and longest railway tunnel in the country,” he said.
Six per cent of the railway line will consist of three tunnels measuring 7.147km and it will have 27 bridges measuring 17.3km, accounting for 14.4 per cent of the total project length.
http://www.theeastafrican.co.ke/bus...al-next-month/2560-4725328-skr37uz/index.html
MY TAKE
While Uganda emphasizes on going for finances for general infrastructure in Uganda, Kenya is all talking abot Phase 2B financing btn Naivasha and Kisumu. What is about Kisumu-Malaba? and Malaba-Kampala? Is Kenya already deserted?
Source: Xinhua| 2018-08-17 12:58:38|Editor: Chengcheng
KAMPALA, Aug. 16 (Xinhua) -- Uganda will focus on infrastructure financing when its delegation attends the Forum on China-Africa Cooperation (FOCAC) Beijing summit this September.
The country continues to prioritize infrastructure development in its partnership with China, David Bahati, minister of state for finance, planning and economic development told Xinhua in an interview on Thursday.
"We are looking at the financing terms of these projects, especially the requirement of counterpart funding. It would also be something that we need to talk about," Bahati said on the sidelines of the second annual Uganda-China Economic and Trade Cooperation Forum held here.
Speaking at the meeting that brought together Chinese enterprises, government officials and economists, Zheng Zhuqiang, Chinese ambassador to Uganda, said the upcoming FOCAC meeting will generate new opportunities for Uganda and Africa.
Uganda is now focusing on the construction of the Standard Gauge Railway (SGR) with help from China, President Yoweri Museveni said at the opening ceremony of the business meeting.
Once completed, the railway will cut domestic transport costs and thus bring down production costs, the president said.
China is already assisting the construction of two major hydropower plants, Karuma and Isimba, both critical for ensuring Uganda adequate power for industrialization, he added.
Uganda has 2.1 billion U.S. dollars alloted to infrastructure in the 2018/19 financial year, Monica Azuba Ntege, minister of works and transport said at the meeting.
Infrastructure development is one of the key factors making Uganda a competitive upper middle-income country by 2040, she said.
Albert Saltson, the CEO of Standard Chartered Bank Uganda, said commercial banks can arrange long-term financial solutions which can help the government get credit for infrastructure development.
China has been committed to partnership with African countries. At the 2015 FOCAC held in South Africa, China pledged a 60-billion-U.S.-dollar fund to fast track the development of Africa with industrialization and infrastructure topping the agenda.
Uganda to prioritize infrastructure financing at FOCAC Beijing summit - Xinhua | English.news.cn
Kenya to sign $3.8b SGR deal next month
Thursday August 23 2018
A passenger train arrives in Nairobi. Kenya is expected to sign a $3.8 billion contract for the second phase of the Standard Gauge Railway in September. PHOTO | FILE | NATION MEDIA GROUP
In Summary
- Transport and Infrastructure Cabinet Secretary James Macharia said the deal will be inked during this year’s Forum on China-Africa Corporation.
- The CS did not name the financier of the second phase, only saying the project is a great opportunity for investors to build industries and houses along the corridor.
- According to the government's plan, phase 2B of the project will start at the planned Naivasha Industrial Park where Phase 2A ends.
By DAILY NATION
More by this Author
Kenya is expected to sign a Ksh380 billion ($3.8 billion) contract for the second phase of the Standard Gauge Railway (SGR) in September.
Transport and Infrastructure Cabinet Secretary James Macharia on Tuesday said the deal will be inked during this year’s Forum on China-Africa Corporation (FOCAC) that will be held from September 1-5 in China.
“We shall be travelling to China on the first week of September for the FOCAC summit and we shall sign the Ksh380 billion contract for the second phase of the SGR from Naivasha to Kisumu,” Mr Macharia said.
However, the CS did not name the financier of the second phase, only saying the project is a great opportunity for investors to build industries and houses along the corridor, beginning from Mombasa to Kisumu.
Speaking during the Architectural Association of Kenya annual convention at Pride Inn Hotel, the CS said the signing of the deal will put the cost of the complete project at Ksh800 billion ($8 billion).
“The Mombasa-Nairobi phase cost Kah327 billion ($3.2 billion), the extension to Naivasha cost Ksh150 billion ($1.5 billion) and the final phase will cost Ksh380 billion,” Mr Macharia said.
According to the government's plan, phase 2B of the project will start at the planned Naivasha Industrial Park where Phase 2A ends.
It will pass through Narok, Bomet, Kericho counties and terminate in Kisumu where the government will put up a modern inland port.
The railway line will have 25 stations — a county station in Kisumu, six intermediate stations and 18 crossing stations.
“The key thing about SGR is that it is the main artery of Kenya’s key development corridor, which starts from Mombasa-Nairobi; what we call the Northern corridor.
“From Nairobi, it goes to the West, and when you get to Naivasha, one branch (central line) goes through Eldoret and the other one goes to Kisumu (southern line),” he said.
A statement posted on the FOCAC website on August 1 said a contractor of the extended Nairobi-Naivasha SGR had already started laying tracks and rail sleepers as implementation of the mega project gathers steam.
The contractor — China Communications Construction Company (CCCC) — said the laying of tracks and rail sleepers is being carried out from Narok towards Nairobi.
The 120km Nairobi-Naivasha line is the first of the three segments that make up the second phase of the SGR project that ends in Malaba town located at the Kenya-Uganda border.
The site quoted Steve Zhao, the CCCC Kenya SGR project spokesman, saying the construction of the stations has been ongoing in Ongata Rongai, Ngong and Suswa towns.
“We are on course to complete the 4.5km Ngong tunnel in August, the first and longest railway tunnel in the country,” he said.
Six per cent of the railway line will consist of three tunnels measuring 7.147km and it will have 27 bridges measuring 17.3km, accounting for 14.4 per cent of the total project length.
http://www.theeastafrican.co.ke/bus...al-next-month/2560-4725328-skr37uz/index.html
MY TAKE
While Uganda emphasizes on going for finances for general infrastructure in Uganda, Kenya is all talking abot Phase 2B financing btn Naivasha and Kisumu. What is about Kisumu-Malaba? and Malaba-Kampala? Is Kenya already deserted?
