VIDEO: China, East African Leaders Sign Up For New Rail Link

East African leaders and China formally signed agreements on Sunday for the construction of a new multi-billion dollar railway linking the Kenyan port of Mombasa to Nairobi and running on to neighboring states.The deals were signed in Nairobi on the last stage of an Africa tour by Chinese Premier Li Keqiang, although Kenya’s president, Uhuru Kenyatta, had already signed up to the deal during his state visit to Beijing last year. Kenyatta has previously said the new railway will cut freight costs to 8 U.S. cents a metric ton (1.1023 tons) per km from 20 cents now. Officials previously put the price for the railway from Mombasa to Kenya’s western border with Uganda at 447.5 billion shillings ($5 billion), including financing costs.

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