Rift Valley Railways to Raise $240 Million for Expansion
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Rift Valley Railways, the operator of the Kenya-Uganda rail line, plans to raise $240 million over the next five years to fund its expansion, said an investor in the company.
The additional capital will supplement an existing $54 million bank facility and enable Rift Valley Railways to expand its operations in both countries, Gachao Kiuna, chief executive officer of TransCentury Ltd., said in an interview today in Nairobi, the Kenyan capital. RVR, as the company is called, has a 25-year concession to operate and manage the rail line.