Commuters using the busy Likoni channel in Mombasa will start enjoying cable car services from 2020.
This is after Trapos Ltd and Kenya Ferry Services (KFS) Wednesday signed the concession agreement of the Sh5.8 billion project at the KFS offices.
The Likoni Cable Cars Express will operate across the Likoni channel.
Speaking during the signing ceremony, KFS managing director Bakari Gowa said construction will take two years from May 2018.
“We will be done with the construction by the end of 2019 and begin full operations the following year. This is after sending our agreement to the Cabinet for approval,” said Mr Gowa.
He said a “good number” of investors had shown interest in the project.
“We will take 60 per cent debt which will be covered by the global investors and 40 per cent by the shareholders. We are yet to conclude our process on the financial clause regarding the project,” he said.
According to the agreement, once Trapos Ltd settles on the investor, the project will be handled by Likoni Cable Cars Express Ltd which will manage the project for 25 years.
“After the 25 years concession, KFS or any eligible company will upgrade, maintain and ensure delivery to the users,” the MD said.
The express link will have 22 cable cars which will carry 38 passengers per cabin. It will carry 11,000 commuters per hour in both directions.
“Commuters will cross the 500m channel in about three minutes. They will pay between Sh20 and Sh100 depending on the mode and the type of operation,” he said.