Roads, Transport and Public Works Cabinet Secretary Kipchumba Murkomen, has finally Released public contract details of the Standard Gauge Railway (SGR) that cost Sh670 billion online.
Murkomen took to his social media account to state that he had shared the documents with the majority leaders of both the Senate and the National Assembly.
When he appeared for vetting, Murkomen vowed to make public details of the contract, which he said has remained opaque.
During a recent TV interview, the CS said he was inching closer to locating the contract.
“I am going to make the agreement public anytime soon, so that the people of Kenya can be able to read and understand the contents of that agreement,” he said.
“SGR is our biggest debt; we pay a lot of money every month to our friends in China.
The contract provide that any goods purchased using proceeds from the SGR will be sourced from China preferentially.
This is despite Kenyans pushing to know whether the Kenya Ports Authority was used to guarantee the loans from the Chinese government.
The loan terms places the interest rate of the loan at 2.0 percent per year.
The Management fee and Commitment fee of the loan are both pegged at 0.25 percent. The loan has a 20 year tenure and seven year grace period.