Shareholders fight State bid to acquire Sh6.4bn EAPCC land

East African Portland Cement shareholders during the annual general meeting at Safari Park Hotel on September 27, 2019. PHOTO | DIANA NGILA | NMG

High Court on Thursday stopped the State from acquiring 4,272 acres estimated at Sh6.4 billion, from East Africa Portland Cement Company (EAPCC) for free after it failed to consult the firm’s shareholder, National Social Security Fund (NSSF) and French firm Lafarge.

The move will derail State’s plans to build cheap homes under the Big 4 Agenda in a multi-billion property deal financed by Chinese and Qataris.

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