Value (million)€ 250
Borrower / GuarantorKenya National Treasury
Financing structureExport Credit Facility
CMC successfully bid, in joint venture with another major Italian infrastructure company, for the Kerio Valley Development Authority tender for the construction of the Arror multipurpose dam. The project includes the construction of a 90 metres high rock-filled dam, an evacuation tunnel and a 60 MW hydropower plant with the relative transmission lines and ancillary works. Works also include irrigation infrastructures on an area of 6,000 hectares and distribution infrastructures for domestic and industrial use, serving more than 500,000 people. The € 250 million commercial contract was financed in pool by Intesa San Paolo, Unicredit and BNP Paribas. 85% of the value was financed through a Buyer’s Credit fully granted by SACE, and the remaining part through a commercial loan.