Market News Page No. 389| Africa Business News | Afrotrade

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Hydrocarbon Exploration Undertaken At Lake Tanganyika North Block With Airborne Gradiometry Surveys

Tanzania Petroleum Development Corporation (TPDC) has recently announced the undertaking of Airborne Gravity Gradiometry Surveys (AGGS) on Lake Tanganyika North Block, aiming at acquiring high resolution gravity and magnetic data to map the geology of the framework’s subsurface. The AGGS is being fully funded by TPDC’s Development Fund and mapping activities will last until January, 2016 over the districts of Kigoma Rural,.... Read more »

Posted on : Friday , 4th December 2015

Tanzania: Scottish Expert Tips TZ on Natural Gas Benefits

Dar es Salaam — A Scottish international consultant in oil and gas, Mr Gordon McIntosh, urged Tanzania yesterday to refrain from the allure of depending on multinationals in the building of supporting infrastructure for natural gas investments. Mr McIntosh, who doubles as director of Aberdeen City Council, told The Citizen yesterday that Tanzania needs to build its own supporting social service and economic infrastructure like.... Read more »

Posted on : Friday , 4th December 2015

Ghana Gas Resumes Supply to VRA

The Volta River Authority (VRA) has resumed gas offtake from Ghana Gas following a "successful tie-in to the VRA main gas pipeline," a statement issued by Ghana Gas indicates. The press release signed by Corporate Communications Officer, Alfred Ogbamey, states that the VRA is expected to now generate 600MW of power to be integrated into the national grid in order to improve the power situation. It will be recalled that the VRA.... Read more »

Posted on : Friday , 4th December 2015

Financing secured for Africa�s New Solar Power project Inhitiative

The Overseas Private Investment Corporation (OPIC) has signed an agreement with SolarReserve and ACWA Power to support the development of solar power in South Africa Redstone Solar SolarReserveThe project will be able to deliver stable electricity supply even after sunset. According to the agreement, OPIC is making a US$400mn commitment of debt financing to support the development of the Redstone Concentrating Solar Power (CSP).... Read more »

Posted on : Friday , 4th December 2015

DNV GL mapping wind potential in Africa

DNV GL has created prelimary wind atlases for Zambia, Tanzania and Maldives as part of a World Bank-funded energy management programme to encourage wind energy generation windenergy blickpixel pixabayThrough maps, DNV GL can provide investors with verifiable and tangible information on wind energy potential in the three African nations. The Energy Sector Management Assistance Programme (ESMAP) aims to reveal the extent of.... Read more »

Posted on : Friday , 4th December 2015

Isolux Corsan and Siemens to install HVDC equipment in East Africa

Spanish energy solutions firm Isolux Corsan has been chosen to design, build and install high voltage direct current (HVDC) equipment between Ethiopia and Kenya for US$450mn highvoltageline succo pixabayThe HVDC will provide a stable power connection to electrical grids in both countries. Isolux Corsan is working in collaboration with German company Siemens to provide a reliable power connection to electrical grids in both.... Read more »

Posted on : Friday , 4th December 2015

East Africa Emerging as Hot-Bed for Energy Related Investments

East Africa is emerging as a hotbed for energy related investments not only for its robust economic growth, but also for its potential to become one of the largest producers and exporters of oil and natural gas in the world. Countries like Tanzania, Kenya, Ethiopia, and Rwanda – which have traditionally depended on biomass to meet most of their energy requirements – are gradually shifting to modern energy sources to meet the.... Read more »

Posted on : Thursday , 3rd December 2015

Yara Gets New Partner for Dallol Project in Ethiopia

Liberty Metals & Mining Holdings, LLC, a subsidiary of Boston-based Liberty Mutual Insurance (LMM), has acquired 25 percent of the shares in “Yara Dallol” for USD 51.25 million. Yara’s share of the proceeds is USD 35.4 million. Yara Dallol is a project looking at extracting potash in the Danakil depression in North-Eastern Ethiopia. The site’s annual production capacity is confirmed to be 600,000 metric tons.... Read more »

Posted on : Thursday , 3rd December 2015

Russia offers loan for nuclear power plant construction in Africa

Russia has agreed to fund the first ever nuclear power plant in Egypt by extending a loan of $25b towards the construction of the plant. The nuclear power plant in Egypt is being constructed by Rosatom Russia’s state owned company. This will be one of the largest project being funded by Russia. Upon completion the construction project is expected to help meet the country’s increasing energy demand. The loan.... Read more »

Posted on : Thursday , 3rd December 2015

Construction of a major thermal power plant in Africa nears completion

Energy Minister for Zambia Dora Siliya has announced that the construction of the 300 megawatts thermal power plant in the country is almost complete. The minister revealed that 83% of the construction work has been done. She was speaking after touring the construction site for the power plant. She said that the thermal power plant in Zambia will boost the country’s power generation capacity. Ms Siliya said that the.... Read more »

Posted on : Thursday , 3rd December 2015

JICA boosts construction of roads in Tanzania

Tanzania has signed a US$ 400m loan deal with Japan to boost construction of roads in the country. The road construction in the country is aimed at triggering the growth of business activities. Masharu Yoshida, the Japanese Ambassador to Tanzania confirmed that Japan International Cooperation Agency (JICA) and African Development Bank (AfDB) will help finance the road construction project in Tanzania. “I have.... Read more »

Posted on : Thursday , 3rd December 2015

China to Place Zim On Investment 'Priority List'

Happiness Zengeni and Tinashe Makichi Zimbabwe's economic fortunes are set to change dramatically once it is admitted into an exclusive group of countries being targeted by China for investment. International Co-operation Centre-National Development Reform Commission of China director-general Dr Cao Wenlian told a China-Zimbabwe Business Forum yesterday that China was looking at admitting Zimbabwe into the priority list of African.... Read more »

Posted on : Wednesday , 2nd December 2015

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