The JV will conduct a feasibility study, due diligence and transaction planning. In addition, the JV will provide project assistance until the financial close, including market the project to private investors and will be responsible for bidding and evaluation of contractors.
The CEO of Deloitte East Africa, Sammy Onyango, said:
"We are delighted for the opportunity to be part of this ground-breaking transaction that is not only historical but will also drive economic transformation. This new bridge will ease congestion and is paramount to drive the economic growth of the entire East African region since the Port of Mombasa is an important gateway into the region"
The new bridge is expected to ease traffic on the current 400-metre Nyali Bridge, which is the only major connection to Mombasa North Coast. The current bridge was developed 35 years ago, during these years it has been the only link between the Mombasa north mainland and the island.
The Second Nyali Bridge PPP project involves the design, build, finance, operation and maintenance of the new infrastructure.
The bridge is critical in unlocking economic development due to the fact that about 95 percent of Kenya's international trade is conveyed through the Port of Mombasa.