Kenyan TransCentury Group includes geothermal in large investment plans

Kenyan TransCentury Group includes geothermal in large investment plans Uhuru Park, Nairobi/ Kenya (source: flickr/DEMOSH, creative commons)
Alexander Richter 18 Jun 2014

Kenyan TransCentury Group plans large-scale infrastructure investments of up to $500 million, singling out geothermal as a possible first cornerstone investment.

Kenyan TransCentury Group Ltd has announced ambitious investment plans of up to $500 million (Sh43.5 billion) in infrastructure projects over the next three years in Kenya.

“TransCentury is an Infrastructure Company listed on the Nairobi Stock Exchange (Ticker – TCL:KN) with three operating divisions across 14 countries in East, Central and Southern Africa.”

As reported already in late May, the company plans to invest its revenue reserves following successful investment in the Rift Valley Railways (RVR). Chairman Zephaniah Mbugua said the mega projects would be implemented in collaboration with key technical partners. He said the high return projects, which would be implemented between 2014 and 2016, are focused on power, engineering and other infrastructure projects. He singled out the planned development of a 35MW Geothermal Plant in Menengai, as the start of its investment plan. Mbugua said the new investments would be funded through the company’s internally generated funds, including proceeds from the sale of its stake in RVR.

“We look forward to strengthening the group’s performance by focusing on the key divisions outlined and building strategic relationships with long term partners to build infrastructure projects across the region, drive regional competitiveness and create value for shareholders” he said.

Source: Standard Media