Additionally, according to an agreement signed between the company and the Government of Kenya, President William Ruto’s administration will authorise a 99-year land trust and its road reserve.
Everstrong, a US-owned infrastructure asset manager, will be the lead sponsor of the project, pumping USD3.6 billion (approximately Ksh470 billion).
The Kenyan government will not pump any cash towards the projects with the US company expected to recoup cash from toll charges.
Trans-African Concessions (TRAC) will be the designated toll road operator for the infrastructure for 30 years.
The expressway will be a 4-lane (2x2) dual carriageway connecting Nairobi and Mombasa cities.
“The project is a high priority for Kenya and will bring significant economic growth along the corridor,” the government said about the project.
Kenyans who cannot afford to pay the toll charges will be able to use the existing road as well as the Standard Gauge Railway (SGR).
On the social aspect, the infrastructure is expected to reduce fatal accidents as well as improve connectivity and reduce wildlife mortality.
Economically, the expressway will not only strengthen the northern corridor but also enhance trade.
“The project development is in close collaboration with Kenya National Highways Authority (KeNHA), private sector partners, and local communities,” Kenyans have been assured.
