Vinci Signs EUR1.3 Billion Kenya Motorway Construction Deal

By Joshua Kirby

Vinci SA said Thursday that it signed a contract with the Kenyan government to build a motorway in the country in a public-private partnership worth 1.3 billion euros ($1.52 billion).

Rift Valley Highway--a company owned by Vinci Highways, Vinci Concessions and Meridiam SAS--signed the agreement with the Republic of Kenya's PPP unit and National Highways Authority, the company said. The respective presidents of France and Kenya attended the signing of the contract in Paris on Wednesday, the company said.

Construction on the Nairobi-Nakuru-Mau Summit Highway project will last around 42 months and will transform an existing trunk road into a two-lane motorway, Vinci said. A consortium of Vinci Construction subsidiaries will carry out the work. Rift Valley Highway will also operate and maintain the motorway as part of a PPP lasting 30 years.

The contract is the first PPP won by Vinci Concessions in Africa, the company said.

Write to Joshua Kirby at joshua.kirby@dowjones.com

(END) Dow Jones Newswires

October 01, 2020 03:22 ET (07:22 GMT)

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