Market News Page No. 498| Africa Business News

Kenya needs US$2.2b yearly to develop infrastructure

Kenya requires approximately US$ 2.2billion to fill infrastructural development financing deficits, Johannes Zutt, World Bank Country Director for Kenya has said. The country spends about US$ 1.6 billion a year as opposed to US$ 4billion sustainable expenditure required over the next decade. This represents about 20 percent of its Gross Domestic product. This is according to the Africa Infrastructure County Diagnostic.... Read more »

Posted on : Thursday , 5th March 2015

Kenya Algeria Sign Mou On Oil And Gas

Kenya has signed a Memorandum of Understanding with Algeria to promote bilateral cooperation in the field of oil, gas and power. In a signing overseen by of President Uhuru Kenyatta and Prime Minister Abdelmalek Sellal at the Presidential Palace in Algiers Cabinet Secretary of Foreign Affairs and International Trade Amb. Amina Mohamed signed on behalf of Kenya while her counterpart Mr. Ramtane Lamamra signed for.... Read more »

Posted on : Monday , 2nd March 2015

Orca Considering First Phase Of Offshore Development In Tanzania

Orca exploration has said it is contemplating a first phase of offshore development consisting of working over two existing wells (SS-5 and SS-9) that are currently suspended in order to fill the existing Songas infrastructure to capacity and provide operational redundancy. This follows under-utilization of the existing infrastructure with the Songo Songo field currently producing approx. 91 million standard cubic feet per day.... Read more »

Posted on : Monday , 2nd March 2015

Aberdeen University To Help Develop Oil And Gas Education In Tanzania

Aberdeen University has been awarded a £1.4million grant to help develop oil and gas education in East Africa. The grant will be split with Dar es Salaam University in Tanzania to help develop the country’s young oil and gas sector with recent discoveries of significant gas reserves. This will help Tanzania develop the required human resource capabilities as it still relies heavily on sector expertise from.... Read more »

Posted on : Monday , 2nd March 2015

AIB targets SME's as the construction of LAPSSET corridor project set start next month

In a bid to positions itself as the nerve center of the East African Community, and gateway into the greater East Africa, the government is planning to start construction of the mammoth Lamu Port Southern Sudan-Ethiopia transport or LAPSSET corridor project next month The project, which covers kenya, ethiopia, south sudan and uganda will cost a whopping 2.7 trillion shllings, and will open new trading frontiers for business people in the.... Read more »

Posted on : Friday , 27th February 2015

Lake Turkana wind power project named African renewables deal of the year 2014 in London

Just weeks after being named the African renewables deal of the year 2014 by project finance international earlier; the Lake Turkana wind power project has received yet another feather for its hat. The project has been named the African renewables deal of the year 2014 at the I-J-global awards 2014 Europe & Africa in London. The lake Turkana wind power project will provide 310 mw of reliable, low-cost, onshore wind power to the republic of.... Read more »

Posted on : Friday , 27th February 2015

Kenya's Largest Geothermal Power Complex Starts Commercial Operation

Kenya Electricity Generating Company Ltd. awarded a full turnkey contract for Olkaria I and IV to a consortium of Korea’s Hyundai Engineering Co., Ltd. and Japan’s Toyota Tsusho Corporation (Tokyo:8015) in 2011. Toshiba, selected by Hyundai Engineering to provide key equipment, supplied four 70-megawatt turbines and generators for the plant in 2013. Olkaria IV started commercial operation in September 2014, followed by Olkaria.... Read more »

Posted on : Friday , 27th February 2015

TANZANIA DRAWS CLOSER TO GAS PRODUCTION FROM THE KILIWANI NORTH 1 WELL

Aminex has notified shareholders that the Tanzanian Petroleum Development Corporation (TPDC), through its contractors, has now begun constructing the Skid Metering Unit within the boundaries of the Kiliwani North Development Licence (KNDL) and have completed laying pipe to the KNDL boundary. Once construction is complete the Kiliwani North 1 well (KN-1) will be connected to the new Songo Songo processing plant where the gas, once.... Read more »

Posted on : Tuesday , 24th February 2015

INDUSTRIAL VALVES MARKET IN THE MIDDLE EAST AND AFRICA TO REACH $10 BILLION BY 2019

A new study by Research and Markets on the Industrial Valves Market in the Middle East and Africa has shown that the market demand for industrial valve in these regions is estimated to reach $10 Billion by 2019, with a projected CAGR of 5.7% in the next half a decade The increasing demand in oil & gas, chemical and municipal applications is expected to be the major drivers for the industrial valves market in this.... Read more »

Posted on : Tuesday , 24th February 2015

Kenya ranked eighth largest global geothermal producer

In Summary - Kenya’s installed steam power capacity now stands at 579MW, ahead of giant economies such as Japan, Russia, China and Germany – according to a study presented to the World Bank by state-owned KenGen. - Kenya has the potential to produce 10,000MW of geothermal power from the Rift Valley basin, studies by the Ministry of Energy show. - Geothermal now accounts for 29 per cent of Kenya’s energy mix, up from the.... Read more »

Posted on : Saturday , 21st February 2015

Vestas supply wind turbines for Kenya�s wind farm; firm�s largest single order

Vestas has supplied 365 wind turbines that will see Kenya’s Lake Turkana Wind Power Project (LTWP) give off 310 megawatts. The order becomes the largest single order for the company. The wind power project was commissioned in March 2014. It is estimated to cost US$ 766.6m and expected be the largest wind farm in Africa. It will be constructed on a 40,000 acres, and construction was to commence this month. The wind power farm.... Read more »

Posted on : Friday , 20th February 2015

World�s first submarine cable to connect Africa and L. America

World’s first submarine cable is set to be constructed in Angola across the South Atlantic with NEC Corporation as the system supplier. According to Angola Cables S.A, a contract for the project that will see Angola and Brazil connected via cable has been signed. This will see a direct link between the African continent to Latin America for the first time, and is set to enable high speed and high capacity.... Read more »

Posted on : Friday , 20th February 2015