News Column

Indian Bank to Lend Sh24 Billion for Elgeyo Project

August 21, 2014

Mathews Ndanyi

The Kerio Valley Development Authority will get a Sh24 billion loan to put up the Arror Hydro-Power Project.

The Exim Bank of India will give the loan.

The project, whose planning is underway, is in Elgeyo Marakwet county.

India's High Commissioner Yageshwar Varma visited the site and met KVDA officials to discuss its implementation.

KVDA chief executive officer David Kimosop received the envoy.

The project is expected to increase electricity supply in the country.

Governor Alex Tolgos said it will create jobs for residents.

The project is located in the Marakwet area on the Arror River.

An irrigation project is expected to be set up near the area.

"We are working on the finer details and our experts have received a report on the project. They are assessing it before signing the contract ," Varma said in Eldoret on Saturday.

Kimosop said experts have worked on most of the technical details of the project.

"As KVDA, we are ready to implement the project as soon as we agree with the financiers on the remaining details," he said.

India is also negotiating with KVDA on the implementation of the Turkwel Sugarcane Project on the Pokot and Turkana border at a cost of more than Sh50 billion.

Experts from India have visited the site.

It will cover more than 10,000 hectares in Turkana and Pokot counties.

Kimosop said they will involve residents in all stages of the project to avert possible conflict.

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Source: AllAfrica

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