Friday, October 14, 2005

East African Railways Deal.

Kenya-Uganda rail deal is sealed.

South African expertise is coming to east African railways. A South African-led consortium
has won the right to run Kenya's and Uganda's railways for the next 25 years.
Rift Valley Railways, owned by South African parent company Sheltam Trade Close Corp,
beat a rival bid from a group led by an Indian company.
Rift Valley won by offering to share 11.1% of freight revenues with the two governments -
more than the other bid. The firm is allowed to buy new equipment, but the two governments
retain ownership of the infrastructure.
Rift Valley is expected to sign a final agreement with both governments next month and take
over management of the railway companies by the end of March 2006.

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