LAPSSET Corridor project will be financed by all the four nations taking part in the project,
The Lamu Port with 32 projected berths will cost Sh87.8 billion.
In a statement sent to newsrooms yesterday, leaders said the project has seven components that require a budget of Sh2 trillion.
They held a Summit of Heads of State and Government at State House in
"With the large sums involved, it was clear that a joint approach that is innovative will be required for implementation," says the statement.
"We sought to learn from the
The leaders said the decision to jointly finance the project has been informed by the on coming Africa-
They said this is a continuation of similar engagements they have been holding with investors from across the
"Lapsset is an integrated project that will provide regional economic integration," the leaders said.
Most Popular Stories
- Rackspace Ends Talks About Possible Acquisition
- Missouri GM Plant Adding 750 jobs
- Mercedes Rolls Out S550 Plug-in Hybrid
- Poverty Rate Drops for First Time Since 2006
- Aaron Hernandez: I Felt Helpless to Refuse Police
- Parameters Being Drawn for IS Action
- Cedeno Named USHCC Businessman of the Year
- Anheuser-Busch, Visa Voice NFL Disapproval
- Can Kobach Keep Taylor's Name on Ballot?
- Two-thirds of Hispanics Doubt Media Accuracy