There is more to the SGR contract, says Ahmednasir

The SGR contract is a 20-year loan with a seven-year grace period

In Summary

•It was signed by former Treasury Cabinet Secretary Henry Rotich and Li Ruogu, the President of the Export and Import (Exim) Bank of China, also precludes Kenya from sharing its details.

•The SGR contract is a 20-year loan with a seven-year grace period

Lawyer Ahmednasir Abdullahi
Lawyer Ahmednasir Abdullahi
Image: FILE

Lawyer Ahmednasir Abdullahi has claimed that what CS for Transport Kipchumba Murkomen released about the SGR was not the full contract.

According to the lawyer , what was made public by the CS was only one of the finance agreements.

 'This isn't the SGR contract. This is one of the finance agreements. The SGR contract is dynamite...you won't see it easily," he said.

During is vetting, Murkomen pledged to make public contract details of the Standard Gauge Railway (SGR) whose total cost has now hit Sh670 billion.

 
 

On Sunday, the CS  shared a copy of the contract with the media and said will be tabled in the respective Houses of Parliament.

As revealed, the contract is a 20-year loan with a seven-year grace period.

It was signed by former Treasury Cabinet Secretary Henry Rotich and Li Ruogu, the President of the Export and Import (Exim) Bank of China, also precludes Kenya from sharing its details.

As per the  SGR deal, Kenya was to repay the amount in 156 months (13 years), and was to dedicate 42.06 percent of the proceeds from the railway to repay the loan.

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