China to negotiate an 5 Billion Dollar railway and energy project with Kenya

China and Kenya sign an 5 Billion-dollar rail and energy project agreement: China and Kenya sign an 5 billion dollar deal covering a railroad and an energy project.

The deal, which covers areas such as finance, environmental protection and renewable energy, was concluded after the meeting of Kenyan President Uhuru Kenyatta and Chinese President Xi Jinping, who paid an official visit to China at the Great People's Palace in the capital, Beijing.

During his first visit to China, Kenyatta said that he would establish close relations with Beijing.
According to the agreement, it was noted that some of the $ 5 billion will be spent on the construction of the railway that will connect Kenya's port of Mombasa to its border town of Malaba. This will enable faster access to markets in the region from Mombasa.

The rest will be spent in Kenya to increase the protection of wild animals such as elephants and rhinos killed by horns and teeth for armed criminal gangs. The animals are usually sent to China for ornaments and medicine.

Whether the money in question was a grant or a loan and either new money or a previously spoken and unexplained package was not specified.

China occupies an important position in Kenya in terms of capital-intensive projects, the majority of which are road.
In the meeting held today, Xi, China, Kenya's industrialization and Nairobi as an international financial center within the scope of the Chinese currency yuan (RMB) in Nairobi, said they would support the quest for the exchange.

The two countries agreed to establish a comprehensive and cooperative partnership involving equality, mutual trust and mutual benefit.
Kenyatta also called on China, demanding Beijing to invest in Kenya's newly discovered oil sector, power generation, technology city near the capital and the new port in Lamu, north of Mombasa. The $ 25,5 billion Lamu project will connect landlocked South Sudan and Ethiopia with the port of Lamu in the Indian Ocean through the construction of a major highway and a railway and an oil pipeline.

Xi said it would boost imports from Kenya to promote balanced growth of bilateral trade and promote co-operation in areas such as infrastructure, renewable energy, agriculture, the environment, wildlife protection and joint fight against cross-border organized crime. Xi also hoped the two countries would provide close coordination to protect the legitimate rights of developing countries and encouraged to accelerate their co-operation in culture, tourism, youth and human resources projects.

Source : I

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