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The Kenyan government is looking for more funds to extend its massive railway project, and is in discussion with the UAE's Etihad Rail for freight operations on the line.
The African state targets as much as $4 billion extra funding for the next phase of the Standard Gauge Railway (SGR) through securitisation, Bloomberg reported on Monday, quoting the Transport Secretary Davis Chirchir.
The negotiations with Etihad Rail are for a concession, where the UAE's national railway company would invest in the rolling stock (trains and wagons) and handle the freight operations on the line.
Etihad Rail is looking at handling 17 million metric tonnes of cargo to break even or make a profit, Chirchir said earlier.
(Writing by Cleofe Maceda; editing by Brinda Darasha)
