A joint venture of Vinci Highways unit Rift Valley Highway, VINCI Concessions, and Meridiam SAS has signed an agreement for the development of about €1.3bn Nairobi-Nakuru-Mau Summit Highway project in Kenya.
The agreement has been signed with the Republic of Kenya, through its Public-Private Partnership Unit and the Kenya National Highways Authority (KeNHA).
The agreement is subject to completion of an environmental and social impact assessment in compliance with the standards of the World Bank.
Said to be a strategic infrastructure for the country’s economic development, the project involves transforming the existing trunk road into a 175km dual two-lane motorway.
The financial close of the project is scheduled by the end of 2021.
Under the PPP, Rift Valley Highway will be responsible for financing, designing, widening, upgrading, operation and maintenance for the road corridor for 30 years.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
In a press statement, VINCI said: “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, a subsidiary of VINCI Concessions, plans to leverage its technical and operational expertise to implement new traffic management patterns as well as deploy advanced equipment and maintenance plans.
The highway project is expected to improve the road safety while reducing travel time between Nairobi, Nakuru and Mau Summit.
In September, VINCI Construction UK won a £14.5m contract to build a new cancer centre in Macclesfield, UK for The Christie NHS Foundation Trust.
The company will be responsible for the construction of a two-storey building to house the new cancer centre.
The Nairobi-Nakuru-Mau Summit Highway project is expected to improve road safety. (Credit: Free-Photos from Pixabay)