If good weather persists, the physical structure of the Kigali Convention Center and Hotel should be completed by May 1, 2016.
The announcement was made by Rwanda’s Finance Minister, Amb. Claver Gatete while appearing before parliament yesterday.
Rwanda had to contract Turkish engineering firm-Summa to complete construction of the multimillion dollar ($300million) Kigali Convention Centre, after kicking out the Chinese company that was initially contracted but delayed the project for more than four years.
“The works that have been done by the Turkish company indicate a progress in the project’s completion. They will hand over the structure mid-April and by May 1, we will be good to go” Gatete said.
The four-year delay increased the cost of the project from the initial estimate of $300 million due to additional costs incurred by government mainly in form of accumulated interest fees as the project has mainly been financed through external borrowing.
The government spent $120 million from the proceeds of its $400 million Eurobond to repay an outstanding loan secured from Citibank, NA London branch.
The Turkish firm was contracted in June, 2015, on condition that the project is completed by the end of March 2016, failing which it will attract penalties.
The new Kigali conventional center, located on Kacyiru Roundabout, along the Kigali International airport road, will house a five star hotel with 292 rooms, entertainment facilities and conference halls with a capacity of handling over 2 500 persons.
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