Nairobi, Nov. 30 -- Kenya Electricity Transmission Company (Ketraco) is under pressure to pay a Spanish company more than Sh10 billion or face liquidation, over a debt arising from a botched contract nearly a decade ago.

The state corporation suffered the blow after the High Court declined to order C.A. Infraestructuras T & I SLU to deposit Sh185 million as security for costs, after the Spanish firm filed liquidation proceedings against Ketraco to enforce an award it won in 2019.

The court rejected Ketraco's application, saying it was a ploy to delay or frustrate the liquidation process and shield the electricity transmission company from the consequences of its long-outstanding decree.

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