Market News Page No. 393| Africa Business News | Afrotrade

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Japan to fund construction of solar power plant in Africa

Japan will fund the construction of a solar power plant in Egypt in a move aimed at enhancing energy the sector in the country Foreign Minister Sameh Shoukry has announced.The solar power plant will be constructed at a cost of $US 100 million. The power plant will have a capacity of 20 megawatts and will be located in the sunny Red Sea resort town of Hurghada. In a statement released by Ismail Khairat,.... Read more »

Posted on : Saturday , 5th December 2015

Turkish construction firm partners with Unicef to build school in Africa

A Turkish construction company has partnered with Unicef to build a school in Nigeria aimed at enabling hundreds of children get education. Turkish prefabricated housing firm Karmod, will construct the school in Nigeria’s Borno province. The first phase of the project will see the building of 30 mobile prefabricated classrooms with desks, chairs, cabinets made and sent by Karmod. In the school each.... Read more »

Posted on : Saturday , 5th December 2015

Construction of Inga 3 hydroelectric project in Africa gets new impetus

The government now hopes to launch the construction of long-delayed Inga 3 hydroelectric project in DRC and hopes work can start by early 2017, the country’s prime minister has announced. Augustin Matata Ponyo told the media in London on the sidelines of an African investment conference in London that the construction OF 3 hydroelectric project in DRC is in very advanced stages and that the government was in the.... Read more »

Posted on : Saturday , 5th December 2015

AVM Africa to Assemble and Manufacture Tractors in 2016

ZIMBABWEAN coach assembler AVM Africa says it will venture into assembling and manufacturing tractors in 2016 starting with 400 units. CEO Musanhi said this followed a partnership with a local company owned by the Zimbabwe National Liberation War Veterans' Association (ZNLWVA), which is set to sign a billion-dollar agreement with a Chinese firm to set up a plant in Zimbabwe. Musanhi said the 400 units will be the first of more to.... Read more »

Posted on : Friday , 4th December 2015

Kenya's Exports to Go Up By Sh10 Billion

Kenya's manufacturing sector is set to get a new growth stimulus when an Africa-wide trade pact that could provide access to a big market is implemented. In June, African leaders signed a 26-nation pact -- the Tripartite Free Trade Agreement (TFTA) -- to create a common market covering half of the continent. As the regional trade integration agenda is implemented, Kenya is expected to cash in on the combined GDP of over.... Read more »

Posted on : Friday , 4th December 2015

Construction Of The Julius Neyerere International Airport New Terminal Reaches 65% Completion

Duth Contractor BAM International (BAM) has recently announced that construction works of the new Terminal 3 at the Julius Neyerere International Airport (JNIA) have so far reached a completion of 65%. The license to start the construction of the new EUR 100 million terminal, was awarded by Tanzania Airport Authority (TAA) in November, 2015 and follows rehabilitation works of the Terminal 2 whose project was awarded between 2005 and 2006 for.... Read more »

Posted on : Friday , 4th December 2015

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

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