RIFT VALLEY RAILWAYS UGANDA LIMITED
Status: Completed investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Rift Valley Railway Investments ("RVR") is the holding company for the two companies that won the concessions to run the railway services of Kenya and Uganda. The concessions involved taking over the management of rail track, locomotives and rolling stock of Kenya Railway Corporation ("KRC") and Uganda Railway Corporation ("URC"). The rail network was built by the British around 1900 as Uganda Railway and consists of a main line running from Mombasa port to Nairobi, and one through western Kenya to Kampala in Uganda.
What is our funding objective?
In order to deal with the environmental degradation of 12 working sites, RVR requested FMO’s and Proparco’s support to build tangible human and technical capacity within selected RVR active workstations to undertake environmentally sound remediation of historically polluted sites.
Why do we fund this investment?
12 contaminated sites are remediated and clean after this project, which is shown in the following benefits that will be realized: 1. Water quality and soil characteristics at the 12 sites in scope comply with national standards, this includes mechanisms to monitor the quality in the long term; 2. Clean-up of all historically contaminated sites, thus preventing environmental degradation caused by contaminated and abandoned sites; 3. Clean up/remediation technologies developed and piloted at hazardous waste sites for both knowledge dissemination and project based coaching; 4. Guidelines and standards for remediation will be developed and supervisory capacity of technical staff in RVR to implement & monitor remediation plans will be built.
- Region
- Africa
- Country
- Uganda
- Sector
- Infrastructure, Manufacturing and Services
- Effective date
- 11/30/2015
- End date
- 5/31/2017
- Total FMO financing
- USD 0.07 MLN
- Funding
- Building Prospects