Chinese railway firm refutes claim about its shareholders

0 Comment(s)Print E-mail Xinhua, June 13, 2019
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Africa Star Railways Operations Company, which runs the standard gauge railway (SGR) in Kenya, on Wednesday refuted a Kenyan newspaper report that it has Kenyan shareholders.

The Chinese firm said in a statement that it is fully owned by the China Road and Bridge Corporation and is duly registered in Kenya specifically for SGR operation and maintenance.

"Africa Star has no local shareholders or subsidiaries," said Dai Yunjie, deputy manager director of Africa Star.

"However, according to the operation arrangement, the company is to employ local employees and provide training so that by the end of the contract, the SGR operation would have been handed over to Kenyans," said Dai.

The official added that the company would like to assure all those concerned that SGR is operating professionally and would continue doing so in the coming years.

A recent report by the Sunday Nation claimed that Kenya signed a secret agreement allowing a mystery company with unknown local shareholders to run the standard gauge railway.

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