Kidero signs MOU with Chinese firm for infrastructure
Nairobi County has signed a memorandum of understanding (MOU) with a Chinese company that could see it clinch a lucrative contract to upgrade the city’s water and sewerage infrastructure.
China Dalian International Economic and Technical Cooperative Group Limited has offered to facilitate acquisition of funds for the upgrades from the Chinese government or commercial banks in exchange for the works contract.
“Dalian will assist to apply for and obtain financing for 85 per cent of the contract value of the projects from the government of China or any commercial bank. The balance of the financing to be done by the government of Kenya,” reads the MOU.
According to the memorandum, the county is actively sourcing for concessional funding from development partners for the upgrades.
“The financing to be obtained will be utilized to fund the projects for the benefit of the Nairobi Water Company,” Governor Kidero explained in his Twitter handle.