Adani Airport Holdings Limited (AAHL), an Indian based company, has proposed to invest US$ 1.84 billion to Jomo Kenyatta International Airport for it expansion and operations.
This was confirmed by the Kenya Airport Authority last week after the proposal leaked and triggered widespread controversy.
The proposal is under a concession agreement seeking an expected 18 percent annual return on investment if the deal is accepted.
The Government would grant concession to Adani to finance, build and operate the project for 30 years, and then give the company an equity stake in perpetuity.
Adani proposes a US$ 750 million investment in developing a new terminal building, associated apron, taxiway system and two rapid exit taxiways seeking to improve efficiency.
It will also use US$ 92 million to improve the taxiway network system, establish two more rapid exits, 90-degree taxiway connections at both ends of the runway, remote aircraft parking stands and other associated facilities, by 2035. An extra $620 million will be used in developing new facilities to ensure a seamless integration with existing infrastructure.
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