@CapitalFMNews

Rotich allocates Sh115.9b for infrastructure including Sh74.7b for SGR Phase 2A

4 months ago, 14 June 19:12

By: Margaret Njugunah

,

NAIROBI, Kenya, Jun 14 – The National Treasury has allocated Sh115.9 billion for infrastructure projects, Sh19 billion less than what the Government allocated last year. 

Sh74.7 billion of the 2018-19 financial year budget will go towards the construction of Phase 2A of the Standard Gauge Railway, while Sh2.7 billion has been allocated to the Mombasa Port Development Project.

Sh1.4 billion has been dedicated for the expansion of Malindi, Isiolo and Lokichogio Airports and Kabunde, Kakamega, Kitale and Migori Airstrips.

“In addition, I have set aside funds for emergency repair of roads damaged by the 26 recent floods across the country. I will also be engaging our development partners towards mobilizing additional resources for the same purpose,” Rotich told Parliament Thursday.

Rotich has also allocated Sh12.7 billion to support the exploration of geothermal, wind and solar resources, and Sh4.8 billion for the exploration and distribution of oil and gas, saying the funds are meant to support the generation of adequate and affordable energy.

More money has also been set to connect more Kenyans to affordable electricity with Treasury allocating Sh5.9 billion for rural electrification and connection of public facilities, Sh6.7 billion for Last Mile Connectivity and Sh1.0 billion for the national street lightning programme.

Additionally, Sh5.5 billion has been sent to fund the Eastern Electricity Highway Project (Ethiopia – Kenya Interconnector) project, while Sh1.0 billion for substation installation.

Sh1.0 billion has been set aside for installation of transformers in constituencies, while Sh1.0 billion for Connectivity Subsidy.

To support the for Loiyangalani – Suswa transmission line, land compensation and counterpart funding, the government will spend Sh12.6 billion. Finally, Sh3.1 billion has been set aside for Nairobi 220KV Ring.


Read More


Category: business

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@CapitalFMNews

Rotich allocates Sh115.9b for infrastructure including Sh74.7b for SGR Phase 2A

4 months ago, 14 June 19:12

By: Margaret Njugunah

,

NAIROBI, Kenya, Jun 14 – The National Treasury has allocated Sh115.9 billion for infrastructure projects, Sh19 billion less than what the Government allocated last year. 

Sh74.7 billion of the 2018-19 financial year budget will go towards the construction of Phase 2A of the Standard Gauge Railway, while Sh2.7 billion has been allocated to the Mombasa Port Development Project.

Sh1.4 billion has been dedicated for the expansion of Malindi, Isiolo and Lokichogio Airports and Kabunde, Kakamega, Kitale and Migori Airstrips.

“In addition, I have set aside funds for emergency repair of roads damaged by the 26 recent floods across the country. I will also be engaging our development partners towards mobilizing additional resources for the same purpose,” Rotich told Parliament Thursday.

Rotich has also allocated Sh12.7 billion to support the exploration of geothermal, wind and solar resources, and Sh4.8 billion for the exploration and distribution of oil and gas, saying the funds are meant to support the generation of adequate and affordable energy.

More money has also been set to connect more Kenyans to affordable electricity with Treasury allocating Sh5.9 billion for rural electrification and connection of public facilities, Sh6.7 billion for Last Mile Connectivity and Sh1.0 billion for the national street lightning programme.

Additionally, Sh5.5 billion has been sent to fund the Eastern Electricity Highway Project (Ethiopia – Kenya Interconnector) project, while Sh1.0 billion for substation installation.

Sh1.0 billion has been set aside for installation of transformers in constituencies, while Sh1.0 billion for Connectivity Subsidy.

To support the for Loiyangalani – Suswa transmission line, land compensation and counterpart funding, the government will spend Sh12.6 billion. Finally, Sh3.1 billion has been set aside for Nairobi 220KV Ring.


Read More

Category: business

Suggested

8 hours ago, 00:00
@StandardMedia - By: Stephen Nzioka
Thange oil spill victims continue to suffer, as MP calls for prosecutions

The Kenya Pipeline Company (KPC) has been accused of neglecting victims of oil spillage that occurred in Thange village in Kibwezi East in 2015. ...

Category: business news
8 hours ago, 00:00
@StandardMedia - By: Josphat Thiong’o
Sh300m housing project 'to delay'

Governor says estates earmarked for project to provide decent and affordable homes are on flight paths. ...

Category: business news
8 hours ago, 00:00
@StandardMedia - By: Jane Mugambi
Lamu farmers demand transparency from multibillion wind energy investor

Company seeking to invest Sh21 billion in generation of wind energy in Baharini has promised to compensate affected farmers before starting operation ...

Category: business news
8 hours ago, 00:07
@StandardMedia - By: Kepher Otieno
Surveyors retreat as they await Kenyan and Tanzanian authorities to allocate more funds.

The fresh demarcation of international boundaries between Kenya and Tanzania has been stopped temporarily due to lack of funds. ...

Category: business news
8 hours ago, 00:14
@TheStar - By: Cynthia Ilako @la ...
Banks set to reap big from Treasury bonds

The government is expected to pay Sh208.64 billion for domestic bonds maturing in the current financial year, National Treasury’s annual debt management report has shown.The report released on Tuesday ...

Category: topnews news business
13 hours ago, 19:18
@AfricaNews - By: Michael Ike Dibie ...
Somali e-commerce takes off, despite few internet users | Africanews

Despite low numbers of internet users and sluggish speeds, e-commerce businesses are popping up in Somalia. ...

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