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Kenya cancels US$653 million replacement terminal at Nairobi airport
KENYA has shelved plans to build a new terminal at the main international airport as the East African nation's tourism industry declines after bombings and shootings by Islamist guerrillas.
The decision is the result of "prevailing economic and financial dynamics which have been on a downward trend over the last three years," said the Kenya Airports Authority, reported Bloomberg News.
When the project was announced in 2014, the authority said it would cost US$653 million and have the capacity to handle 20 million passengers.
But visitor numbers have fallen for a fourth year in 2015 to 748,710, down 41 per cent from 2011, according to Kenya National Bureau of Statistics data.
Tourists have been scared by attacks by al-Qaeda-linked guerrillas, including the assault on the upmarket Westgate mall in Nairobi in September 2013.
African Development Bank, one of the financiers of the cancelled terminal, hasn't lost any money because it hadn't disbursed any funds, Eastern Africa regional director Gabriel Negatu.
The decision is the result of "prevailing economic and financial dynamics which have been on a downward trend over the last three years," said the Kenya Airports Authority, reported Bloomberg News.
When the project was announced in 2014, the authority said it would cost US$653 million and have the capacity to handle 20 million passengers.
But visitor numbers have fallen for a fourth year in 2015 to 748,710, down 41 per cent from 2011, according to Kenya National Bureau of Statistics data.
Tourists have been scared by attacks by al-Qaeda-linked guerrillas, including the assault on the upmarket Westgate mall in Nairobi in September 2013.
African Development Bank, one of the financiers of the cancelled terminal, hasn't lost any money because it hadn't disbursed any funds, Eastern Africa regional director Gabriel Negatu.
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