Centum Investments’ Amu has signed a Sh. 200 billion financing deal with South Africa’s Standard Bank. This was revealed by the bank in its full year report.
“Standard Bank and ICBC have concluded debt financing agreements with a consortium of Kenyan investors for the building of the 1,000-megawatt Amu coal-fired power plant,” Standard Bank said in its latest annual report.
Centum currently holds a 25 per cent stake in the consortium and has pledged to invest Sh. 10 billion in the coal project. Centum’s partners in the project include Gulf Energy and Sichuan Electric Power Design and Consulting Company Limited.
Amu had already secured $1.2 billion (Sh120 billion) from ICBC, indicating that the Chinese multinational and its South African subsidiary have agreed to provide a further $300 million (Sh30 billion) jointly.
