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{
    "id": 661457,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/661457/?format=api",
    "text_counter": 346,
    "type": "speech",
    "speaker_name": "Hon. Gaichuhie",
    "speaker_title": "",
    "speaker": {
        "id": 17,
        "legal_name": "Nelson Ributhi Gaichuhie",
        "slug": "nelson-gaichuhie"
    },
    "content": "Thank you, Hon. Temporary Deputy Speaker. From the outset, I support this Motion. The reason is that I am the Vice Chair of the Departmental Committee on Finance, Planning and Trade and we had opportunity to visit the KPA and saw Phase 1 of the terminal. This loan is supposed to do Phase II. We were taken around the terminal. We saw what the terminal takes, the machines that are involved and the time it takes to build a terminal. There could be competition from the region, but this is because our port is not well equipped. This loan is supposed to buy equipment for the Phase II Terminal and to also expand the terminal. The SGR is almost starting to operate. We need to expand the capacity of the port so that we can make use of the SGR. Again, this is a concessional loan and the interest rate is very cheap. We cannot get such a loan from any other place apart from Japan. They have looked at KPA and seen that it is able to repay this loan even without involving the Government. There is a prepayment plan. There is a good grace period before we start repaying the loan. Going by the period that we are required to pay this loan, we can repay the loan. Building Phase II of the terminal will take almost four years. So, if we refuse to approve this loan and say that we should wait until we have the capacity, by the time we will say that we need this loan, we might not get it. By the time we get the loan, the building of the terminal is going to take a while. That is why I support the loan. Kenya is well placed and we handle cargo that is on transit. A terminal like this can handle containers that are on transit. People think that we only get containers for local use. This is a transit point where cargo destined to other destinations is left before another ship takes it. We found it necessary for us to get this concessional loan, so that we can expand our port and construct Phase II Terminal take off. With those few remarks, I support."
}