Big day for Kenya: Ruto Secures Ksh682 Billion Deals in Dubai

Ruto Secures Ksh682 Billion Deals at COP28 in Dubai

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Big day for Kenya: Ruto Secures Ksh682 Billion Deals in Dubai
Big day for Kenya: Ruto Secures Ksh682 Billion Deals in Dubai

The government has secured Ksh682 billion in deals for seven energy and food projects at the United Nations Climate Change Conference (COP28) in Dubai.

In a statement by State House Spokesperson Hussein Mohamed dated Saturday, the billions cover green manufacturing with various parts of the country set to benefit from the deals.

It was detailed that Kenya and an Australian company, Fortescue, had agreed to collaborate on a project for the production of green fertiliser. Mohamed detailed that the Ksh228 billion project will be used to produce green ammonia.

He explained that the deal was geared towards making the country food secure.

On the other hand, the government also agreed with US investors to construct a 200-megawatt (MW) data centre using geothermal energy at Olkaria.

The deal that targets agencies such as Konza and Kenya Electricity Generating Company PLC (KenGen) is estimated to cost Ksh91.4 billion(USD 600M).

“Big day for Kenya at COP28 with the announcement of USD4.48 billion in green manufacturing deals during the launch of the Africa Green Industrialisation Initiative (AGII), presided over by President William Ruto in collaboration with the COP28 Presidency and other African states,” read the statement in part.

During the COP28 meeting, Kenya also signed a Ksh152 billion deal with Indonesia and Masdar for a 300MW geothermal project which will be undertaken in Suswa.

Other geothermal deals signed included the Ksh16.7 billion Menengai Geothermal development and a Ksh121 billion deal for the Paka Geothermal project.

“US, Brazil, India, and Kenya have launched CESC for clean energy supply chain expansion, with a Ksh86.5(USD 568 million) loan for developing countries.

“The United Green and Kenya Development Corporation have partnered for a 15,000-hectare sustainable agriculture project. The sustainable agriculture deal is worth Ksh41 billion(USD 270M),” read the statement in part.

Ruto is currently at the climate conference with other senior government officials for the Dubai conference which aims at addressing the effects of climate change.

The conference is set to end on December 12.

By WASHINGTON MITO

 

Big day for Kenya: Ruto Secures Ksh682 Billion Deals in Dubai

 

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