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Ruto: Funds from Kenya Pipeline IPO will be used to expand JKIA

Jomo Kenyatta International Airport

Security checks at the entrance of the Jomo Kenyatta International Airport in Nairobi.

Photo credit: File | Nation Media Group

By  Reuters

Kenya will use Sh15-Sh20 billion from an initial public offering (IPO) of shares in Kenya Pipeline Company to expand Kenya's main airport, President William Ruto said on Monday.

The government said last week that it had raised Sh106.3 billion by selling a 65 percent stake in Kenya Pipeline Company and that proceeds would be earmarked for projects like highways, railways and ports.

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