The Kenyan government is seeking private investors for a $245 million (about Ksh31.7 billion in the current exchange rates) high-voltage transmission line project to replace the cancelled Adani deal.
This comes months after President William Ruto cancelled the contentious deal in November, the day after Gautam Adani, the director of Adani, was indicted in the United States in a $250 million (about Ksh32.4 billion in the current exchange rates) graft case.
Kenya is seeking to have the project, which will involve the construction of four power lines, commence in 2026 and be completed in 2029.
According to a report by Bloomberg, the private partnership is expected to bridge the "major infrastructure financing gap", which currently stands at $5 billion (about Ksh647 billion in the current exchange rates).
