Kenya has signed a $1.2 billion agreement with China Road and Bridge Corporation to expand and modernize Jomo Kenyatta International Airport in Nairobi, aiming to increase annual passenger capacity from 7.5 million to 22 million. The upgrade will include a new terminal, improved support facilities, and modernization of existing airport infrastructure. The project replaces an earlier arrangement with India’s Adani Group that was cancelled last year. Kenyan authorities say financing will be arranged through the Trade and Development Bank and the Africa Finance Corporation. The move comes as Kenya seeks to defend its status as East Africa’s leading aviation hub amid heavy airport investment from regional rivals Ethiopia and Rwanda.
CNBC Africa