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{
    "id": 193883,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/193883/?format=api",
    "text_counter": 302,
    "type": "speech",
    "speaker_name": "Dr. Oburu",
    "speaker_title": "The Assistant Minister for Finance",
    "speaker": {
        "id": 194,
        "legal_name": "Oburu Ngona Odinga",
        "slug": "oburu-odinga"
    },
    "content": " Mr. Deputy Speaker, Sir, I beg to move the following Motion:- THAT, this House approves Sessional Paper No. 1 on Kenya Government Guarantee of AY26.7 billion equivalent to Kshs16.18 billion loan from the Japanese Bank for International Co-operation (JBIC) to the Kenya Ports Authority (KPA) for Mombasa Port Development project laid on the Table of the House on Tuesday 10th June, 2008. Mr. Deputy Speaker, Sir, the loan is being sought in accordance with the provisions of the Guarantee of Loans Act, Cap.461, Laws of Kenya. The following information is laid before the National Assembly for consideration and approval. The Kenya Ports Authority is a State Corporation established under the KPA Act, Cap.391, Laws of Kenya, and falls under the Ministry of Transport. The Port of Mombasa, which is the gateway to East and Central Africa, is also the principal seaport for the region. As gazetted under Schedule 2 of the KPA Act, the primary function of the KPA is management of seaports in Kenya, which includes Mombasa, Vanga, Shimoni, Mtwapa, Kilifi, Funzi, Malindi, Kiunga and Lamu. In addition, cargo handling as specified in the KPA tariff constitutes a core activity of the Authority. With the full support of the Government, the KPA has successfully negotiated for a loan of AY26.7 billion or equivalent of Kshs16.18 billion from the Japanese Bank for International Co-operation (JBIC) to finance the Mombasa Port Development 1114 PARLIAMENTARY DEBATES June 10, 2008 Project. The JBIC is a Government of Japan overseas development assistance bank. The project aims at enhancing the Port of Mombasa container handling capacity to enable accommodation of the project container traffic growth from the current 0.6 million to 2.2 million containers by 2025, consistent with the Kenya's Vision 2030, which was launched today. The expansion entails established of three new deep water berths to allow much bigger ships, panama size to dock at the Port of Mombasa. The scope of work will include the reclamation of the sea to create 100 hectares of space, civil works for the berths, containers stacking yards, rail terminals and six lane access roads, buildings, purchase of equipment and consultancy services. The first phase of the project is expected to be ready by 2013 and the final phase by 2015. The loan bears an interest rate of 0.2 per cent per annum and carries a ten year moratorium. It has a repayment period of 30 years."
}