Tuesday, February 21, 2012

Ethiopia, Kenya and South Sudan to jointly fund new oil pipeline



The cost of a massive a transportation corridor project aimed to link Kenya to South Sudan and Ethiopia will be shared among the three east African countries, according to a report.

The $22billion dollar Lamu-Southern Sudan-Ethiopia Transport (LAPSSET) Corridor project is expected to be launched next month.

To cope up financial constraints, the LAPSSET master plan report has proposed that the subjects - Kenya, South Sudan and Ethiopia should share part of the project cost, although the countries are seeking an external finance source.

The groundbreaking ceremony will be held on 2 March in the presence of President mwai Kibaki of Kenya, Ethiopian Prime Minister, Meles Zenawi, and South Sudan president, Salva Kiir.

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