LAMU PORTManda Bay, Lamu County

A new 32 Berth port at Lamu (Kenya)

Lamu Port Profile

Location:            Lamu County

Cost:                     480 M US$

Source of funds: Government of Kenya

Status:                  1st Berth complete Beth 2 and 3 is at 70%

 

Cargo type:          General

Berth 1 throughput 2020: 400,000.00 TEUs

Maximum depth:                   17.5 M

Hinterland links:                   Road

Main Markets:                      Kenya, Ethiopia and South Sudan

Cost Estimate

  • 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.

Economic Evaluation

  • 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.

Financing Plan

  1. The 1st 3 Berths will be fully financed by the Government of Kenya.
  2. The remaining 29 Berths will be financed by Private Sector Investors

Current Status

  1. Construction of the 1st Berth is complete.
  2. Construction of Berth 2 and 3 is ongoing and expected to be complete by the end of the year 2020.
  3. Operationalization of Lamu Port is underway, in compliance with the International Maritime Organization’s set of security measures for Ships and Ports (ISPS code), and Marine Pollution Conventions.
  4. International Market sounding for Lamu port is ongoing.

milestones

  1. Feasibility studies for Lamu Port and SEZ carried out and completed in 2011
  2. The contract for the construction of the 1st 3 berths was signed on the 1st of August 2014 with a Chinese EPC.
  3. Detailed Engineering Studies carried out for the 1st 3 berths which are now classified as a priority project for off-take of the rest of the project components.
  4. Environmental and Social Impact Assessment study completed and approved by the National Environmental Management Authority in 2014
  5. Construction completed at the Port site for the following preliminary facilities: LAPSSET Plaza (Port Headquarters), Port Police station, Electric Power connection to the national grid, and water supply to the port.
  6. Port Housing for management and security is still under construction with an estimated completion rate of 70%
  7. The Authority has procured the services of a Transaction Adviser to package the Lamu Port for Investments.
  8. Dredging began in October 2016 and is currently ongoing.
LAPSSET Corridor presentation
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