of between 17% and 23.4% compared to acceptable industry minimum standard of 10% for infrastructure projects as shown in Table 1 below. Table 1: LAPSSET Corridor Project Components with accompanying cost implications Services Note 1: Both all and each project components are judged as viable in view of national economy as EIRRs computed are more than 12%, which is opportunity cost. Note 2: Cargoes are generated by the Corridor itself. Higher figures than the above table can be realized. From the statistics provided, it is therefore evident that if the government structured the projects into bankable bundles, it would attract private sector investors to participate and invest in the projects. Cost of LAPSSET Program The seven key infrastructure project components of the LAPSSET Corridor Program require substantial amounts of resources with a budget estimate of US$24.5 billion, equivalent to KSh.2 trillion/= at current exchange rates in construction costs. It is estimated that Lamu Port with its 22 berths alone will cost approximately US$3.1 billion, the Railway US$7.1 billion while the crude oil pipeline will cost a further estimate of US$3 billion for Lamu to Lokichar trunk line alone. Indeed, the figures indicated above are of no mean task and cannot be left to the Government's limited resources alone. The Government has prioritised the participation of private sector in the development of LAPSSET Corridor infrastructure through infrastructure bonds and equity participation among other money market instruments. There is already significant private sector interest being registered towards the implementation of these project components hence the need has arisen for the government to structure and package bankable projects that are investor ready for uptake by private sector. Status of implementation of LAPSSET corridor projects The government undertook ground breaking for the LAPSSET Corridor Program at Lamu Port site on 2 March 2012, after which it commenced construction activities of various infrastructural facilities and services aimed at progressing implementation of LAPSSET Corridor Project. The ongoing construction works for various project activities are summarized below. Lamu Port LAPSSET Corridor Project is on course and so far construction activities for various facilities at Lamu Port site are ongoing with progress for Lamu Port Building and Port Police and security facilities having achieved a completion rate of 95%. i) Port Building: 95% complete. ii) Police Station: 95% complete. iii) Design review ongoing for the first three berths, with construction to begin in July 2014 iv) The physical