The United States-based infrastructure company, Everstrong Capital, now says it has submitted an updated feasibility study report in response to feedback from the Public Private Partnership (PPP) Committee for the construction of the Nairobi-Mombasa expressway.
The company on Thursday, August 14, issued a comprehensive statement detailing the intrigues behind the ongoing talks with the Kenya National Highways Authority (KeNHA) for the Ksh468 billion expressway.
According to the firm, another copy of the updated feasibility study report was also submitted to KeNHA for consideration in line with the PPP Act of 2021.
In the new submissions, Everstrong Capital revealed that all the revisions were aligned with Kenya’s technical, financial, environmental, and legal due diligence processes.
"KeNHA has not issued any statement rejecting the project, and continues to engage actively with Everstrong Capital," the company clarified.
It further stated that the multi-billion-shilling project was still in the process of refinement and that it would not be replaced through the expansion of the current Nairobi-Mombasa highway.
The company explained that the current demand by KeNHA for the expansion of the Nairobi-Mombasa road was part of the overall strategy but not a competing alternative.
"Usahihi Expressway is not only a greenfield expressway; it is a hybrid model that will also include modernising and expanding sections of the current highway where appropriate," Everstrong Capital affirmed.
"The Nairobi-Mombasa Expressway is Africa’s most ambitious toll road project. Once approved, it will revolutionise transport along the corridor by cutting travel time from 10.5 to 4.5 hours," it added.
While confirming the submission of the revised feasibility study report, Everstrong Capital underscored its full commitment to transparency, collaboration with the Kenyan government to deliver the transformative infrastructure project.
Meanwhile, the latest development comes against the backdrop of KeNHA's recent announcement that the project has been halted over the private company's failure to meet certain criteria.
In a statement on Tuesday, August 12, the Authority disclosed that the decision to reject the proposal followed a thorough review of the report by the committee in line with the provisions of the PPP Act of 2021.
Despite declining Everstrong Capital's proposal, KeNHA directed the company to restructure its proposal to meet the evaluation criteria through expansion of the existing Nairobi-Mombasa highway.
