South Sudan/ Kenya pipeline has $3 Billion price tag
The proposed pipeline that would take crude from South Sudan to the Kenyan port of Lamu has a substantial price tag according to Juba’s finance minister Kosti Manibe. The minister said that the pipeline would cost $3 billion to be constructed.
Manibe said that although the country did not have the funds to cover the entire cost of the pipeline it would invest in the project and had the necessary reserves of crude to offer as guarantee to any financiers.
"The 2,000 km pipeline will cost approx. $3 billion dollars," he told a news conference in the Kenyan capital of Nairobi. "We don't need to have the money right now, we have the reserves," he said. '"South Sudan will definitely have equity in the pipeline," he added.
Construction on the pipeline is expected to begin next year and is scheduled to come onstream in 2015. South Sudan will be able to transport between 700,000 barrels and 1 million barrels of crude per day through the pipeline.
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