The work for the Nairobi-Nakuru-Mau Summit Highway project will be carried out by Vinci Construction, with operation and maintenance undertaken by Vinci Highways. The contract, which is worth about €1.3bn (£1.2bn), has a life of 30 years, including maintenance.
The agreement is between the Republic of Kenya - through its Public Private Partnership Unit and the Kenya National Highways Authority (KeNHA) – and Rift Valley Highway, a company owned by Vinci Highways (lead), Vinci Concessions and Meridiam SAS.
The project will transform the existing trunk road into a 175km dual two-lane motorway. Rift Valley Highway will finance, design, widen, upgrade, operate and maintain this road corridor during 30 years.
The signing took place on Wednesday in the presence of French president Emmanuel Macron and Kenyan president Uhuru Kenyatta. Financial close is expected to occur by the end of next year.
The construction works, scheduled to last 42 months, will be carried out with a consortium comprising Vinci Construction subsidiaries Sogea-Satom, which is locally rooted in Kenya, and Vinci Construction Terrassement, which specialises in large infrastructure projects.
It is the first PPP won by Vinci Concessions in Africa.