Monday, November 25, 2024 – Treasury Cabinet Secretary John Mbadi has broken his silence over what will happen to the Jomo Kenyatta International Airport (JKIA) after President William Ruto cancelled Adani deal to expand the airport.
Speaking in Kisumu, Mbadi
announced that the government is open to a new investor taking up the expansion
after the collapse of the Adani deal.
According to Mbadi, the
government is now free to explore new partnerships with interested
parties.
He explained that the Adani deal
was structured as a Privately Initiated Partnership (PIP), which allowed for
termination at any time.
Mbadi emphasised that this
cancellation was possible because the contract had not yet been signed, which
was the situation in Kenya's case.
“The Adani procurement system
was a PIP, which meant that it could be terminated at any time, at any stage,
so long as you have not signed the contract,” he announced.
“We are still open to any other
investor out there who wants to come in and invest by partnering with the
government to develop JKIA,” Mbadi affirmed.
The CS added that it was
imperative for renovations to be conducted at JKIA due to its deteriorating
state and pressing problems.
“The investment is a must because we need to address the state of JKIA.
"JKIA is now outdated and
dilapidated. It is not an airport that can compete with others in the region,”
he noted
The Kenyan DAILY POST
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