(CBN Global) March 29 -- China Communications Construction Co. [HKG:1800], China's largest port construction and design company, has signed four commercial contracts with the government of Kenya valued at approximately USD5.3 billion.
The contracts include two railway projects, the Naivasha-Kisumu Standard Gauge Railway and Kisumu-Malaba Standard Gauge Railway, a port development and an inland-container depot expansion project.
The two railroad projects are Engineering Procurement and Construction contracts, with a 54-month term. They will be constructed using Chinese standards and technology.
An initial section of the East African rail network, the Mombasa-Nairobi Standard Gauge Railway, has already begun construction. It is the first overseas Chinese standard gauge rail, and will connect the Kenyan capital of Nairobi to the largest port in East Africa, Mombasa.