Kenya Roads Lots 15 & 18 construction and maintenance

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The project involves the construction, rehabilitation, upgrading, operation and 10 years of maintenance of Kenya Roads Lots 15 & 18, a total of 16 roads with total length of 80km. The programme is being implemented by the Kenya Urban Roads Authority (KURA). The sponsor is the Portuguese Mota-Engil Engenharia E Construção África S.A. company and it will operate Lots 15 and 18 of Kenya road infrastructure. Two SPVs were formed to manage the concessions, Infraconnect Fifteen Kenya Limited (Lot 15) and Infraconnect Eighteen Kenya Limited (Lot 18). The total project cost is $130.8m, and MIGA is providing guarantees of $211.63m covering equity investments by the sponsor, as well as loans from Stanbic Bank. The guarantee is against the risks of breach of contract, transfer restriction, expropriation, and war and civil disturbance for a period of up to 10 years. The financial close date is March 8th, 2022. Realfin https://supercasa.pt/de-de/noticias/mota-engil-new-119-million-euro-project-in-kenya/n2093 https://www.miga.org/project/kenya-annuity-roads-program-lots-15-and-18-0 https://africabusinesscommunities.com/banking-and-finance/news/miga-issues-guarantees-of-212m-to-upgrade-kenyas-national-road-network/ https://www.ijglobal.com/articles/162971/miga-backs-kenyan-roads-project