A consortium which includes Kenya’s Centum investment firm will start building coal power plant in December 2015 in Lamu.
While announcing the company’s first-half pre-tax profit on Wednesday 11th November 2015, the firm’s Chief Executive James Mworia announced that the investment firm together with consortium known as Amu Power have finalized debt financing agreement for the project with China’s ICBC and South Africa’s Standard Bank so that construction can start by early 2016.
The coal power plant is set to be built in Kenya’s Lamu region, a coastal area that has previous terrorism incidents citing its geographical proximity with Somalia.
In the past couple of months the country has enjoyed security presence across the country and imitation of such mega projects and investments in the coastal region previously characterized with strings of insecurities indicates how the country’s security has weathered the storms and on the verge of defeating terrorism.
Centum Investment Company is one of the biggest firms on the Nairobi stocks with interests ranging from real estate projects, listed firms, private equity and electricity generating plants, among others.