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US firm eyes Sh129bn local cash for expressway
The Nairobi Expressway Mlolongo Toll Station on June 26, 2022. The US firm indicated that it was designing the new road and doing the final feasibility study that would address concerns such as environmental issues.
US infrastructure investment firm, Everstrong Capital, will raise Sh129 billion from the local market for the construction of the 440-kilometre Nairobi-Mombasa Highway, as it targets to break ground by the end of the year.
The company on Thursday signed an agreement to spearhead fundraising of $1 billion (Sh129.2billion) from local banks and pension funds, marking a key step in the development of Usahihi Expressway, the key road that is expected to cut the trip between the capital and the coastal city down to 4.5 hours.
