According to the Lamu Port-South Sudan-Ethiopia-Transport (Lapsset) Corridor Development Authority director general Sylvester, dredging works that began last October are well underway, and the contractor, China Communication Construction Company, has already completed 20 per cent of the works.
“China Communication Construction Company is expected to complete construction of the three berths by the year 2020 at a cost of Sh48 billion,” Mr Kasuku told a media briefing in Nairobi on Friday.
He said that Kenya is co-financing construction of the first three berths with the rest expected to be financed by the private sector under a public private sector framework.
Kenya has so far spent Sh12 billion for the construction of the Lamu Port with an additional Sh10 billion allocated for the 2017/18 financial year.
Mr Kasuku disclosed that South Africa had already signed a Memorandum of Understanding to develop the first three berths in the Lamu Port.
“The South Africans are currently in the phase of submission of proposals and are undertaking discussions with relevant government agencies before commencing construction works,” Mr Kasuku said.
Upon final completion, the 32-berth Lamu Port will be nearly ten times larger than the existing port of Mombasa, which currently handles 1.2 million Twenty Foot Equivalent Units (TEUs) annually and has a maximum capacity of 2.5 million TEUs.
The first three berths of Lamu Port, which are expected to be operation in 2020, will handle 1.2 million TEUs and when fully operational will handle 20 million TEUs.
The port is being built at Manda Bay, which juts out towards the islands of Pate, Manda and Lamu, a location chosen for its size and deep waters capable of accommodating large vessels.