Nairobi — The governments of Kenya, Uganda and Rwanda plan to invest some $14 billion in a new 2,937 kilometres standard gauge railway.

The facility is aimed at boosting trade between the three countries and within the fledgling East African Community (EAC) bloc.

Kenya's Roads and Infrastructure Cabinet Secretary Michael Kamau said the cost of the project had been split into two with infrastructure accounting for $11.7 billion while the rest will go towards rolling stock.

"The construction of this line is long overdue. The region is at a stage where key decisions in respect to transport network need to be made if we are to boost trade. The commitment of these three nations is unwavering," said Kamau.

The ambitious project is expected to be complete, up and running by January 2018.

The three countries announced in Nairobi last week that they will engage in a joint cash mobilization venture in efforts to raise the required cash for the lucrative railway project.

Transport Ministers from the three countries spoke in Nairobi after a consultative forum in what will greatly transform the transport situation within the region. This will especially have a major impact on trade volumes in respect to cargo transport 85 per cent of which is currently being done by road.

The three countries will forthwith commit a certain amount of their national budgets towards the project according to the deliberations agree on at the Nairobi meeting.

"This will be done through the commitment to a Railway Development Fund that will benefit from an annual budgetary allocation," he said while reading a joint communique from the meeting.

The Kenyan government has already established a Railway Development Fund.

Kenya has made some strides into the construction of the standard gauge railway with the Mombasa-Nairobi line expected to be launched in November.