Centum Investment the company proposing to establish the imported coal power plant in Lamu County.
Listed investment firm, Centum, is urging pension fund managers to consider investing in the $2 billion (Sh192 billion) Lamu coal plant. Construction on the 1050MW power plant, to be developed jointly between Centum and Gulf Energy, is expected to commence in October and become operational four years later. “This investment will earn an attractive internal rate of return of 12 per cent on the dollar over the project’s life. We will list it as an asset-backed security at the Nairobi Securities Exchange and we’re already holding discussions with the Retirement Benefits Authority to facilitate participation of pension funds,” said Job Muriuki, an executive at Nabo Capital Limited (formerly Centum Asset Managers). He made the remarks yesterday during an investment forum, at the Intercontinental Hotel Nairobi. The meeting was held to present Lamu coal power plant as an alternative investment opportunity available to retirement funds. The Lamu coal power project is a proposed 981.5 MW coal-fired thermal electricity-generating plant station to be built in Lamu County.