Kenya unveils ambitious $13.8 billion electric railway project connecting Lamu to Ethiopia and South Sudan: #Kenya has unveiled an ambitious plan to initiate #construction in 2025 of a cutting-edge high-speed #electric #railway, envisaging a $13.8 billion project that will link its #IndianOcean port of #Lamu to key destinations in #Ethiopia and #SouthSudan.
This strategic move aims to enhance regional connectivity, bolster economic growth, and provide an alternative transport corridor to landlocked countries.
Connecting Diverse Economies
The proposed high-speed electric railway is set to span an impressive 3,000 kilometers (1,864 miles), stretching from Lamu to the central Kenyan town of Isiolo. From there, the #railway will branch out into three directions, leading to the capital cities of #AddisAbaba in Ethiopia, #Juba in South Sudan, and #Nairobi in Kenya Unveils. The ambitious initiative is spearheaded by the Lapsset Corridor Development Authority, the entity responsible for overseeing the comprehensive project.
Viable Economic Prospects
Backed by a projected economic internal rate of return exceeding 12%, the proposed high-speed electric railway holds significant promise for economic growth and development. The Lapsset Corridor Development Authority has expressed confidence in the proposal’s viability, indicating that it will attract investments and stakeholders. In pursuit of comprehensive feasibility and engineering studies, Kenya Unveils is securing $9 million from an #AfricanUnion #infrastructure fund, a critical step toward materialising the project.
Pan-African Integration and Growth
Recognized as a priority project by the African Union, the high-speed electric railway is an integral component of the broader Lamu Port-South Sudan-Ethiopia Transport (Lapsset) corridor initiative. This #panAfrican endeavour aims to connect nations with a collective economic output of $233 billion and a population of approximately 200 million people. The project is poised to strengthen economic ties and spur growth across the region.