- First Public Private Partnership (PPP) for VINCI Concessions in Africa
- An approximately €1.3 billion project, a 30 years PPP
- Works performed by VINCI Construction, operation and maintenance ensured by VINCI Highways
- A strategic infrastructure for Kenya’s economic development
(GLOBE NEWSWIRE) - The Republic of Kenya, through its Public Private Partnership Unit and the Kenya National Highways Authority (KeNHA), executed an agreement with Rift Valley Highway, a company owned by VINCI Highways (Lead Member), VINCI Concessions, and Meridiam SAS, for the development of the Nairobi-Nakuru-Mau Summit Highway project. The signature occurred in Paris on September 30th 2020 in the presence of Emmanuel Macron, President of the French Republic, and Uhuru Kenyatta, President of the Republic of Kenya.
The agreement will become effective following the performance of an Environmental and Social Impact Assessment in compliance with the high standards of the World Bank. The financial close of the project is expected to occur by the end of 2021.
The project, worth about €1.3 billion, will transform the existing trunk road into a 175-kilometer dual two-lane motorway. Through an availability payment based PPP*, Rift Valley Highway will finance, design, widen, upgrade, operate and maintain this road corridor during 30 years.
The construction works, scheduled to last 42 months, will be carried out with a consortium comprised of VINCI Construction subsidiaries: Sogea-Satom, locally rooted in Kenya and VINCI Construction Terrassement, specialized in large infrastructure projects. VINCI Highways, subsidiary of VINCI Concessions, will capitalize on its technical and operational expertise to implement new traffic management patterns, deploy advanced equipment and maintenance plans and provide local employees with training programs.
In one of the strongest economies in Sub Saharan Africa, this highway will improve the road safety and reduce travel time on this strategic axis between Kenya’s capital city Nairobi, Nakuru and Mau Summit. Crossing along the Rift valley, the highway will also serve as a gateway to touristic development.
It is the first PPP won by VINCI Concessions in Africa.
* Without any traffic risk. Rift Valley Highway income will be based on availability and quality criterion.
About VINCI Highways
VINCI Highways, a subsidiary of VINCI Concessions, is a world leader in road concessions, operations and services. Through its multispecialist approach, VINCI Highways designs, finances, builds and operates highways, urban road networks, bridges, tunnels and toll services facilities in 14 countries. VINCI Highways’ network covers 3,700 km worldwide and its 5.500 employees deploy a unique expertise to keep roads running at best levels of performance and safety and provide drivers with a seamless experience.
About VINCI Concessions
VINCI Concessions is a global leader in mobility infrastructure, committed to achieving and sharing sustainable growth with regions and communities. We successfully unlock the potential of public private partnerships in 21 countries through the VINCI Group’s integrated concession and construction model and our expertise in design, financing, programme management and operation and maintenance of infrastructure. Our teams work on the ground to constantly make mobility more sustainable, enjoyable and innovative. VINCI Concessions combines VINCI Airports, the world’s leading private airport operator, VINCI Highways, a leading road mobility operator that manages a network of over 3,500 km, and VINCI Railways, a pioneer in railway concessions. www.vinci-concessions.com
About VINCI Construction
VINCI Construction, a global player and European leader, is active on five continents, with more than 72,000 employees and 830 companies generating revenue of €14.9 billion in 2019. Structured according to an integrated model, the company has the capacity to intervene over the entire life cycle of a structure (finance, design, construction, maintenance) in eight sectors: buildings, functional structures, transport infrastructure, hydraulic engineering, renewable and nuclear energy, the environment, oil and gas sector, and mines.
VINCI is a global player in concessions and contracting, employing 222,000 people in some 100 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, above and beyond economic and financial results, we are committed to operating in an environmentally and socially responsible manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. VINCI’s goal is to create long-term value for its customers, shareholders, employees, and partners and for society at large. www.vinci.com
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