Sessional Paper No. 08 of 1989 on Kenya Government Guarantee of Loans to Kenya Times Trust from a Consortium of Banks led by the Standard Chartered Merchant Bank Limited, U.K.

Abstract

As part of its developmental programme, the Kenya Times Media Trust is embarked on a programme of construction of a Media Trust Centre at Nairobi. Environmentally the design of the Centre will ensure the retention of Uhuru Park and it will add elegance to and enhance the scenic beauty of Kenya's capital city. The Media Trust Centre, which will be wholly owned by KANU, will have a sixty story tower, two ten storey wing blocks, malls, auditorium, external works, under passes for Uhuru Highway and Kenyatta Avenue, three satellite dishes and ancillary telecommunication equipment, parking area for 2,000 cars, landscaping, works of art and other amenities. The total cost of the project is estimated to be US dollars 197 million, which is equivalent to Kshs 4,320,761,600. Of this, an amount of US $155 million which is equivalent to Kshs 3,399,584,000 will be financed through off-shore loans and the balance will be met from local loans.