Kenyan opportunity set for huge investment

27/07/2011 - Kenya property & investment news Posted by Neil King
Kenyan opportunity set for huge investment
Construction of a $500 million terminal at Kenya's Jomo Kenyatta International Airport is set to begin next year in a bid to meet a forecast increase in passenger numbers.It has been confirmed that the terminal will have the capacity to handle 20 million passengers, Reuters has reported.The project will include a railway terminal, 60 check-in counters and 40 boarding gates and will take about 24 months to complete, a statement explained.Lucy Mbugua, the general manager for marketing and business development at the airports authority, told reporters that the airport will handle 6.03 million passengers this year, up from 5.5 million in 2010.Furthermore, she explained that revenue generated by the airport in the 12 months through June increased to 5.97 billion shillings ($66.1 million), up from 5.05 billion shillings a year earlier.The new terminal, meanwhile, is expected to generate revenue of $111 million in the first year of operation.