President Mwai Kibaki, Prime Minister Raila Odinga South Sudan President Salva Kiir and Ethiopia Prime Minister Meles Zenawi, look at the model of Lamu Port during the official launch of the multi-trillion Lamu Port-Southern Sudan-Ethiopia Transport (lappset) Corridor Project. PHOTO | FILE
In 2013, a conglomerate led by China Communications Construction Company won a Sh42 billion tender for the construction of the first three berths of the port.
The cost of constructing the pipeline, which is one of the flagship projects under the Lapsset project, is estimated at Sh360 billion ($4 billion). The pipeline would connect Kenya’s Lamu port with landlocked oil-producing South Sudan to facilitate crude exports.
It is expected that the project would inject between two and three per cent of the gross domestic product into Kenya’s economy once completed.
Kenyans would get a chance to invest in some of the projects under the Lamu-Southern Sudan-Ethiopia Transport (Lapsset) through buying of shares.
Lapsset director-general, Sylvester Kasuku said the oil pipeline to be constructed under the project would be the first to be listed on the Nairobi Securities Exchange.
