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Kenya, US investment manager agree Sh471bn Nairobi-Mombasa Expressway deal

Nairobi Expressway

Nairobi Expressway along Waiyaki Way, Westlands.

Photo credit: Pool I Nation Media Group

By  Reuters

NAIROBI, May 23 - Kenya's highways authority and U.S. infrastructure investment manager Everstrong Capital have signed a $3.6 billion (about Sh471 billion) agreement to build a 440 km (273 miles) highway between the capital and port city Mombasa, the company said on Thursday.

A bigger highway between Mombasa and Nairobi has been on the wish list of successive governments aiming to ease congestion on the busy road to and from the port.

"The project anticipates attracting investments totalling $3.6 billion, sourced from international investors, development agencies, pension funds and an exceptionally large number of Kenyan private investors," Everstrong said in its statement.

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