Dr. Gachao Kiuna, CEO TransCentury
TransCentury, Kenyan infrastructure firm, witnessed a break even in the railway business in the first six months of this year. The company is positive on its stance for growth and profit after investing in the railway business.
With barely 10 years of existence, TransCentury has developed into a household name with a cross sectional interest in the area of power, transport and engineering. The firm, together with its partners, Rift Valley Railways (RVR), the firm that operates the Kenya-Uganda railway, has continuously inested heavily in wagons and rehabilitation of tracks.
“We expect that with continued investments, RVR will for the first time achieve profitable operations going forward to start to contribute towards group earnings,” it said in a statement.
Its power business, where it supplies electric equipment like transformers and switch gears, reported a 14 percent fall in revenue due to a drop in world metal prices.
But revenue from its engineering business jumped by a third, thanks to growth in activity from the country’s emerging mining sector. ($1 = 87.3000 Kenyan shillings)