China “Santa Claus” Brings High-Speed Rail to East Africa – What Do They Want in Return?
A recent news story from CNN reports on the completion of a new high-speed railway in Kenya.
On Wednesday May 31, a train embarked on an inaugural trip on the 300-mile long high-speed rail line from Mombasa, Kenya to its capital city Nairobi. The line, named “Madaraka Express,” took 2 years to complete, replacing Kenya’s existing 100-year old railway built during its colonial rule. It’s the largest project since independence 1963.
The terminal station is Kenya’s capital Nairobi, but they don’t plan to stop there. They plan to connect 6 other countries along East African, connecting the country to the Indian Ocean economy.
The project cost as high as $3.8 billion – 6% of Kenya’s GDP, but they believe it will pay off. built by China Road and Bridge Corporation, 90% of the investment comes from China Eximbank.
The locals only have good things to say about the quality of work from the Chinese construction company. “They are the best,” said one local. The company also employed 2,500 locals on the project.
China can have a lot more to give to Africa, “but they need to make sure their interests are covered,” said Aly Khan Satchu, Financial Analyst.
Kenyans have high hopes for its new $3.8 billion Chinese-financed railway. CNN’s Farai Sevenzo reports.
See the full news coverage from CNN
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