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Government set to revive Kenya's National Shipping Line to tap Sh300 billion

The Government has announced plans to revive the Kenya National Shipping Line that has the potential to contribute Sh304 billion into the country’s economy annually.

 

State House Spokesperson Manoah Esipisu on Sunday said the State Department of Maritime and Shipping Affairs, through its Blue Economy Committee, has rolled out plans to restructure the ownership of the KNLS.

“Negotiations are at an advanced stage for the exit of foreign shareholders who have expressed desire to cease working with KNLS, due to KNSL having become a parastatal” said Mr Esipisu when he addressed the press at State House, Mombasa.

Apart from putting Kenya back on the global map, the initiative is expected to create an average of 3,000 job opportunities for youth in the first year, and thereafter progressively increase to 6,000 in five years.

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Mr Esipisu added that the revival of the shipping line, which has been dormant for decades, is part of the Jubilee Administration’s wider plan to boost the economy of the coast region as well that of the whole country.

“This administration has invested billions of shillings in this region to build or improve security, infrastructure and general service delivery, with the simple goal of uplifting the live of residents in an inclusive way,” said Mr Esipisu.

The Jubilee government has also announced plans to expand Malindi Airport at a cost of Sh700 million.

The president who has been in Mombasa since Friday has since launched a number of development projects already.

Tomorrow, President Kenyatta will launch the construction of Kinango -Samburu Road and also Mariakana – Bamba road.

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(courtesy of PSCU)

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