Market News Page No. 483| Africa Business News | Afrotrade

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The Kenya construction and infrastructure sector forcasts growth

Africa building and construction industry news, reports, projects, events, opinions and reviews. We cover ongoing, planned projects in Africa and around the world and audience include contractors, stakeholders such as financiers and developers, governments, and private undertakings. A Long-term interest in the construction and infrastructure sector will be driven by successful issuance of Eurobond. Issuance of the bond will also boost the.... Read more »

Posted on : Monday , 22nd June 2015

China- Kenya agreement to develop a multi billion steel plant in Kenya

A multi billion shilling steel plant is upcoming in Kenya as high consumption of steel-related products in the country and region is being witnessed. The new steel plant is set to be constructed following the penning of an agreement between Kenya and Sinosteel – the company will undertake the investment. The new steel plant will see the country quell an expected demand of 2.5 million metric tonnes for steel per.... Read more »

Posted on : Monday , 22nd June 2015

UK based company Expands mining project to Africa

The Ethiopian government has entered a gold development agreement with UK-based gold mining company Kefi Minerals goldmine-pixabayKefi Minerals has conducted a feasibility study, which has revealed that there are 28 tonnes of gold. (Image source: Pixabay) Ethiopia’s minister of mine Tolosa Shagi signed the agreement with Kefi Minerals. The UK-based company will mine for gold and silver in the Gonji Area, located in the western.... Read more »

Posted on : Saturday , 20th June 2015

Lekela Power signs off on MOU for 50MW PV plant in Egypt

Lekela Power, a 60/40 joint venture between Actis and Mainstream Renewable Power, has signed memorandums of understanding (MOUs) with the New and Renewable Energy Authority (NREA) for a 50MW plant in Aswan, Egypt, and a 50MW wind power plant in the West Gulf of Suez. Chris Antonopoulos, CEO of Lekela Power, said: “We are pleased with the two MOUs, which mark an important step for Lekela Power and its partners. We have a.... Read more »

Posted on : Saturday , 20th June 2015

SIEMENS SIGNS $9BN DEAL WITH EGYPT

Siemens has signed its single biggest ever order – worth €8bn ($9bn) – to provide gas-fired plants and wind power installations to Egypt. The new projects will boost Egypt’s power generation capacity by more than 50 per cent and will add anSimens president Joe Kaeser extra 16.4 GW to Egypt’s grid. The deal was signed in Berlin and witnessed by Egyptian President Abdel Fattah El-Sisi and German.... Read more »

Posted on : Saturday , 20th June 2015

CHINA TO BUILD 50 MW SOLAR POWER PLANT IN KENYA

China is to build one of Africa’s largest solar power plants, an official has announced. China’s ambassador to Kenya, Liu Xianfa, said on Friday that his country had signed an agreement to build the 50 MW project near the northeastern Kenyan city of Garissa. The project will be financed by a loan from the China Import-Export Bank. "After extensive research and mutual exchanges between the two countries,.... Read more »

Posted on : Saturday , 20th June 2015

East Africa survey reveals US$15.6bn iron ore deposits

The Ministry of Energy and Mineral Development said the deposits were discovered and quantified following a series of recent airborne geophysical surveys. In its latest review of the country’s mineral sector, the ministry said the new ore reserves were discovered at Buhara (48mn tonnes), Nangara (six million tonnes) and Rugando (55million tonnes); all in south-western Uganda. “More than 200mn tonnes of iron ore are now proven.... Read more »

Posted on : Saturday , 20th June 2015

Kenya construction and infrastructure sector to grow by 9%

The Kenya construction and infrastructure sector is anticipating a growth of 9% year-on-year in 2015 according to Kenya Infrastructure Report Q3 2015 released this month by Business Monitor International. The growth in the sector is expected to remain over a 10-year forecast period to 2024. A Long-term interest in the construction and infrastructure sector will be driven by successful issuance of Eurobond. Issuance of the bond.... Read more »

Posted on : Saturday , 20th June 2015

US$ 60m hydroelectric power plant in East Africa

East Africa is set to start works on the construction of a US$ 60m hydroelectric power station that will aim at reinforcing the energy sector in the country. The power plant- Kagu 006 hydroelectric plant which is located in Cibitote, five kilometres from Bujumbura town was created under a public and private partnership project (PPP) which is a better agreement that will see it come to birth. “The development will be a hydroelectric power.... Read more »

Posted on : Saturday , 20th June 2015

SOCO reviewing options for offshore Congo discovery

SOCO International is discussing commercialization options for its offshore Lidongo X Marine-101 exploration well with the Republic of Congo authorities. The government has asked for the results of the well to be presented as a production license application format. SOCO says preparations are under way and the company expects to issue formal submission by the end of 3Q 2015. Reprocessing of seismic reprocessing continues following ENI’s.... Read more »

Posted on : Saturday , 20th June 2015

Orca contracts shallow-water rig for Songo Songo offshore Tanzania

Orca has entered into a drilling contract with Paragon Offshore for the use of its M826 mobile drilling workover rig and associated services for the offshore phase of the Songo Songo gas field program. The rig can operate in the shallow water operating environment around Songo Songo Island, which Orca describes as “somewhat unique.” However, the company still needs to obtain certain regulatory and contractual approvals related.... Read more »

Posted on : Saturday , 20th June 2015

MAUREL ET PROM REPORTS PROMISING RESULTS OF THE MB-4 DEVELOPMENT WELL IN TANZANIA

Manzi Bay operator Maurel et Prom has announced that the MB-4 development well, drilled 800 m from the MB-2 and MB-3 wells at the Mnazi Bay gas field, has crossed Miocene gas reservoirs with net pay of 24 metres (Upper Mnazi Bay) and 43 metres (Lower Mnazi Bay) respectively, both ranked among the best of the five wells drilled at this field so far. According to Maurel et Prom pressure measurements have confirmed the lateral and the.... Read more »

Posted on : Saturday , 20th June 2015

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