The United States-based infrastructure company, Everstrong Capital, now says that it has submitted an updated feasibility study report which is in response to the feedback from the Public Private Partnership (PPP) Committee for the construction of the Nairobi-Mombasa Expressway Construction.
Everstrong Capital issued a statement on Thursday, August 14, which detailed the intrigues behind the ongoing talks with the Kenya National Highways Authority (KeNHA) for the Ksh468 billion expressway.
Nairobi-Mombasa Expressway Construction Project Factsheet
Project name: Usahihi Expressway
Cost: approximately $3.6 billion
Funding model: Public-Private Partnership (PPP)
Key Partners:
- Private developer: Everstrong Capital (US-based)
- Kenyan developer: Kenya National Highways Authority (KeNHA)
Also read: $3.6 Billion Usahihi Expressway, Africa’s Largest Toll Road Project Rejected
According to the firm, another copy of the updated feasibility study report was also submitted to KeNHA for consideration which is in line with the PPP Act of 2021.
Details of the Newly Submitted Report
In the new submissions, Everstrong Capital indicated that all the revisions made aligned with Kenya’s technical, financial, environmental, and legal due diligence processes.
“KeNHA has not issued any statement rejecting the project. Also, it continues to engage actively with Everstrong Capital regarding the expressway project ,” the company clarified.
Current Status
Furthermore, Everstrong Capital further stated that the multi-billion-shilling project was still in the process of refinement. Also, the company added that it would not be replaced through the current Nairobi-Mombasa highway expansion works.
Additionally, Everstrong Capital explained that the current demand by KeNHA for the expansion of the Nairobi-Mombasa road was part of the overall strategy. However, it further explained that it was not a competing alternative.
Also read: Usahihi Expressway Construction to Commence Next Year, Africa’s Largest Toll Road Project
While confirming the submission of the revised feasibility study report, Everstrong Capital underscored its full commitment to transparency, collaboration with the Kenyan government to deliver the transformative infrastructure project.
