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- May 11, 2013
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Uganda has announced the start of construction of the Standard Gauge Railway (SGR) in August, in a decision that revives hope for the extension of Kenya’s Sh327 billion project whose viability was dependent on the Ugandan section.
Uganda says it has secured funds from the Standard Chartered Bank with a Turkish company getting the contract to construct the railway line after Kampala failed to get the money from China.
Earlier, Uganda was looking at China Exim Bank for funds to construct their section of the Malaba-Kampala railway under the northern corridor project that required all the member states to put up a modern railway line in their respective States.
“What I want to assure you is that come August, you will see the construction of Standard Gauge Railway on our land,” said Uganda State Minister for Works Fred Byamukama.
Kenya’s phase two of SGR, which would have cost Sh380 billion, stalled at Naivasha after China said Uganda must show commitment to constructing its section of the modern railway to give more funds for the extension from Naivasha to Malaba.
www.businessdailyafrica.com
Uganda says it has secured funds from the Standard Chartered Bank with a Turkish company getting the contract to construct the railway line after Kampala failed to get the money from China.
Earlier, Uganda was looking at China Exim Bank for funds to construct their section of the Malaba-Kampala railway under the northern corridor project that required all the member states to put up a modern railway line in their respective States.
“What I want to assure you is that come August, you will see the construction of Standard Gauge Railway on our land,” said Uganda State Minister for Works Fred Byamukama.
Kenya’s phase two of SGR, which would have cost Sh380 billion, stalled at Naivasha after China said Uganda must show commitment to constructing its section of the modern railway to give more funds for the extension from Naivasha to Malaba.
Uganda renews hope of Kenya extending its SGR to Malaba
Uganda has announced the start of construction of the Standard Gauge Railway (SGR) in August.
www.businessdailyafrica.com
