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Publish Date : 23-Sep-2014

RIFT Valley Railways has received its first batch of rebuilt B23-7 diesel locomotives from GE. The firm has also concluded a $US 20m financing deal for the fleet of 20 units. The concessionaire of the 2800km Kenya-Uganda railway has entered into the financing deal with Standard Bank of South Africa and CFC Stanbic Bank, with Standard Bank covering 80% of the total cost of the order. In early September, the first batch of three locomotives arrived at the port of Mombasa.

On September 18, Kenya's transport cabinet secretary Mr Michael Kamau formally unveiled the locomotives. Delivery of the remaining 17 units is expected by next May. Qalaa Holdings, RVR's majority shareholder, said, “When combined with the locomotives that are being rehabilitated in the rail operator's Nairobi workshop the trains will double RVR's mainline locomotive fleet, substantially increasing its freight haulage capacity in Kenya and Uganda.”

RVR chief executive officer Mr Carlos Andrade said, “Insufficient locomotive power is the single biggest obstacle preventing a step change in the volumes we transport. This new financing not only alleviates the bottleneck but is also a vote of confidence by a major international lender in our operations.”

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