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Kenyans risk Sh5bn loss to bankrupt Spanish firm
Ketraco had entered into two contracts with the Spanish firm for construction of an electricity transmission line and extension of an existing sub-station at Lessos in Rift Valley in April 2013. FILE PHOTO | NMG
Kenyan taxpayers are on the verge of losing Sh4.8 billion to a Spanish firm contracted by the State-owned Kenya Electricity Transmission Company (Ketraco) to construct an electricity line linking the local and Ugandan power grids.
Ketraco lost a second attempt in court to stop paying the foreign contractor, Instalaciones Inabensa S.A, the amount for breach of the contract financed by an African Development Bank (AfDB) loan.
