Mombasa Port

I have been following a thread pale skyscrapercity and there is a deal that stinks all the way to Ichaweri.
How can a project cost Ksh 27 billion but the investment is leased out for 33 years with the Government pocketing only ksh 50 million .

https://www.skyscrapercity.com/#/topics/919180?page=40

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[li]Corruption and state asset capture at Mombasa port as government hands over CT2 - Kshs 27 billion second container terminal to KNSL (State owned) plus 3 other entities for Kshs 50 million. Those entities are MSC, Unimar and Heywood. (Who are Unimar and Heywood) for 33 years.[/li]Nassir said the same script played out in the revitalisation of the Kenya National Shipping Line to enable it to operate CT2.
This started with the amendment to the Merchant Shipping Act to allow a Cabinet Secretary to exempt a shipping line from conditions barring such entities from operating a port.
FLAWED REVIVAL
KNSL was formed in 1987, a time when Kenya owned vessels but ran into management challenges that left them moribund.
The government recently sought to revive the entity, ushering in the politics of ownership, with Nassir insisting that the shipping line be wholly owned by the government.
The insistence is what attracted Uhuru’s wrath at the Maritime Academy, an event which most of the MPs opposed to the privatisation skipped.
On this, Nassir said KNSL was meant to grow, until the government issued tender for partners to come on board to partake of shares at the corporation.
MSC, Unimar and Heywood came on board after the share trading, “but the shares were floated for purposes of being a partner in a shipping line”.
“The issues of a shipping line operating a port were not there. The amount of money invested by MSC was about Sh50 million, an amount we felt was not worth granting the firm the leeway to operate the Sh27 billion CT2,” Nassir said.
If you look at the cost of operations, business opportunities, the value of assets, we are talking about Sh100 billion. So we have given up an asset of that amount for Sh50 million.
There is going to be totally no fair play because we’ve given a private shipping line a terminal to run the terminal. Two, there was no known criteria on how the firm was decided upon
MP Abdulswamad Nassir
“There is going to be totally no fair play because we’ve given a private shipping line a terminal to run the terminal. Two, there was no known criteria on how the firm was decided upon.
“The wording of the amendment to the Merchant Shipping Act as it is now is more dangerous, as it means even entities with one per cent shareholding can own the company legally.
“They say there are issues of jobs. There is nothing liquid in the deal. This is not a government to government arrangement. These are private companies. We should have floated a national tender and asked all the maritime players to take part.”
Nassir said it would have been better if the terminal leased out or an entity is given a concession as an incentive to boost the ports’ operations.
“When you give a lease of 33 years or more, what you are basically doing is signing off the natural resources that a certain generation should have enjoyed.”
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when Julius Malema said “for kenya its a special case…its still a colony…” watu waliichukulia lightly but there was more to that statement.

scam as usual. those two companies are owned by people who feed off state capture.