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August 4, 2014

Kenya signs $478m deal with Chinese firm to construct Lamu Port berths

Kenya Ports Authority has signed a deal worth $478m with China Communication Construction Company (CCCC) for the construction of three Lamu Port berths.

By admin-demo

Kenya Ports Authority has signed a deal worth $478m with China Communication Construction Company (CCCC) for the construction of three Lamu Port berths.

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The three new berths will form part of the $24bn Lamu Port South Sudan Ethiopia Transport (Lapsset) corridor and take its berth count to 29 upon completion.

Speaking at the signing ceremony Kenyan President Uhuru Kenyatta said: "The signing of this contract for construction of the first three berths is a major milestone in delivering the Lapsset programme and achieving Kenya’s Vision 2030."

The Kenyan Government has set aside $50.7m to compensate the affected land owners due to construction of Port berths.

"The signing of this contract for construction of the first three berths is a major milestone in delivering the Lapsset programme and achieving Kenya’s Vision 2030."

"The Lapsset project encompasses other infrastructure components and facilities, including roads, railway, airports, oil refineries, pipeline, fibre optic cable and high grand falls," Kenyatta added.

"All these components are to be implemented as a package that will result in the development of an integrated transport and economic corridor."

Construction works on the berths are scheduled to begin in September.

The Lapsset corridor is expected to provide Kenya with much-needed transport infrastructure that will result in economic prosperity of northern and eastern parts of the country, according to Kenyatta.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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