MANDA BAY, LAMU COUNTY
A new 32 Berth port at Lamu (Kenya)
Lamu Port Project, with 32 Deep Sea Berths estimated to cost US$ 5 Billion. The cost for the Short-term Plan, including the First Three Berths in the Urgent Plan of Lamu Port, is estimated to be US$ 689 million, taking account of dredging and reclamation; construction of berths and yards; construction of revetment, causeway and road; construction of buildings and utilities; procurement of equipment and tug boats; and others.
The EIRR for the Long-term Lamu Port Development Plan is assessed to be 23.4%. The cargo-wise EIRRs are 28.5%, 24.5% and 17.1% for general cargo, container cargo and bulk cargo, respectively. All of these figures indicate that the Lamu Port Project is viable economically in consideration of the opportunity cost of 12% p.a.
The 1st 3 Berths will be fully financed by the Government of Kenya. The remaining 29 Berths will be financed by Private Sector Investors
The construction of the 1st three berths is ongoing with delivery times of 24 months of the 1st berth and 45 months for the next two at a cost of 480 Million US$. To facilitate this, several preliminary and support infrastructure such as the Port headquarters, Port Police Station, Electric Power Connection to the National Grid and Water Reticulation Network were undertaken and are complete. Construction of the Port Management Housing Scheme is also ongoing. At the same time the government is structuring the remaining 29 berths to be concessioned to the private sector for construction and operations.