Business highlights August 7 2017 – Government in Ksh1 trillion plan to address water shortage

Business highlights August 7 2017 – Government in Ksh1 trillion plan to address water shortage

Government in Ksh1 trillion plan to address water shortage

The government plans to spend Sh100 billion every year over the next decade in an ambitious programme to provide water, an official has said. Water and Irrigation Principal Secretary Fred Segor said the country currently has 124 million cubic litres of water against the required 3.5 billion cubic litres, a deficit he says needs to be resolved in the next 10 years. “The funds will go towards robust water projects to address the shortage, mitigate against effects of drought and boost food security,” said Prof Segor. He said the ministry is keen to boost water storage capacity through channelling of funds to mega-dams and boreholes and mapping underground sources. “Water availability is still low, with most of it going to waste. The Indian Ocean is full of water and doesn’t require more. We need to harvest this water,” said Prof Segor.

Kenol spends Ksh320m settling court cases

Oil marketer KenolKobil has spent Ksh320 million on settling several long-standing legal cases, revealing the financial toll that litigation can have on a company’s bottom-line. Kenol, in its financial results for the six months to June, disclosed that administrative and operation costs increased 41 per cent to Sh1.4 billion due to “settlement of various old legal disputes and inflationary pressure.” David Ohana, the firm’s managing director, has now disclosed that nearly a quarter of this expense resulted from the NSE-listed firm’s settling of seven legal cases. Some of the high profile cases that Kenol has been involved in include the battle with the defunct Kenya Petroleum Refineries Ltd (KPRL). Kenol, which was claiming to be paid Sh1.8 billion as compensation for product losses incurred due to inefficiencies at the facility has since dropped the case and almost completed writing off the claim.

KMC begins Ksh3.4 billion upgrade

Kenya Meat Commission (KMC) has begun the refurbishment of Kenya’s largest abattoirs in Mombasa and Athi River. The two slaughterhouses will get a facelift to the tune of Ksh4 billion aimed at modernising and automating them. The Kibarani slaughterhouse will be rehabilitated at a cost of Ksh600 million. The Athi River plant gets the chunk of the fund with its upgrade costing Ksh2.4 billion. Speaking in Mombasa over the weekend, KMC Managing Commissioner Joseph Learamo said that a Turkish firm had conducted a survey on the technical work to be undertaken at the facilities.

 

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