U.S based construction firm Bechtel is now set to construct six lane highway in Kenya, the largest economy in East Africa.
According to local media reports Kenya will see the six lane highway in Kenya being constructed through a joint-partnership with the US government to upgrade the 485-kilometer highway from Nairobi to the port city of Mombasa.
Bechtel will carry out the project with the assistance of the US Export-Import Bank and its one f the biggest project the company have ever had in the region.
According to the report Overseas Private Investment Corporation (Opic) will act as guarantor against any possible breach of the agreement by Bechtel until the project is completed.
This is one the best deal ever clinched by a US based company and it was a result that came out after the sidelines of the second edition of the US-Africa Business Forum in New York.
The forum was successful as it brought over 29 head of states and the African continent countries were able to mobilize $9.1 billion to support trade on the continent.
The highway once completed will be a game changer in the Kenyan trade market as it holds at least 50 percent of all goods traded in the East Africa region.
This will also see a great improvement in terms of business and improve the economy of the countries and counties that will be using the highway.
The project is expected to kick off in the a month’s time and it is the second largest highway the country has ever had as Thika Road super highway has eight lanes.
The government is also expanding a 25-kilometer section of the Nairobi-Nakuru highway into six-lanes. It awarded the contract to China Wu Yi, a Chinese company that also constructed the Nairobi-Thika highway.
The upgrade will cost $ 164 million (Sh 16.4 billion) and is funded by the World Bank.