N e w s

Investors Turn to East Africa for Growth Prospects

 Investors targeting Africa are looking east as an oil-market rout depresses economic growth prospects in Nigeria and other crude-producing nations. Stocks have surged 22 percent in Tanzania, 18 per cent in Uganda and 9.4 per cent in Kenya since oil began falling from a peak of $115.71 a barrel on June 19. Lower fuel-import costs are helping to keep inflation and interest rates in check and bolster their economies. That contrasts with a 24.... Read more »

Posted on : Friday , 19th December 2014

Angola s Sonangol secures $2 billion loan for refinery, other projects

 China Development Bank (CDB) has extended a $2 billion line of credit to state-owned Sonangol EP to support expansion projects in Angola’s oil and gas sector.   The financing agreement was signed on Dec. 12 in Beijing, China, Sonangol said.   In addition to allowing execution of other large projects in crude oil exploration, refining, and logistics, the 10-year loan agreement, which opens prospects for other long-term.... Read more »

Posted on : Thursday , 18th December 2014

Ivory Coast signs deals with ExxonMobil for two oil blocks

 Ivory Coast has signed production sharing agreements with oil giant Exxon Mobil for two ultra-deepwater blocks in the Gulf of Guinea, the West African nation’s oil minister said.   The deal covers Ivory Coast’s CI-602 and CI-603 blocks, which cover 3,874 and 5,543 square kilometres respectively and vary in depth from 3,000 to 4,000 metres.   “The maximum exploration period is nine years for each block and,.... Read more »

Posted on : Thursday , 18th December 2014

Nigeria: GE and Heirs Holdings Partner to expand footprint in the Oil and Gas Services Sector

These companies which are aggressively working towards the development of African sub continent have agreed to jointly pursue and strive towards the growth of oil and gas industry in Nigeria. Before now, GE's collaboration with Heirs Holdings was focused on the Nigerian power sector towards the expansion of the largest power station in Nigeria. The move is a clear demonstration of a new approach by multinational companies to develop meaningful.... Read more »

Posted on : Thursday , 18th December 2014

South Africa to announce 1,000 MW of renewable energy contracts

 JOHANNESBURG - South Africa will announce a series of renewable energy projects on Monday that will add 1,000 megawatts (MW) of power into the country's constrained electricity grid. It is also committed to introducing renewable into its mix of power generation, 95 percent of which is coal at the moment. The so-called "Window 4" of its renewable energy bidding rounds has invited bids for a range of renewable projects such as.... Read more »

Posted on : Thursday , 18th December 2014

Kenya: Final Olkaria Project Phase Linked to National Grid

Nairobi — The Kenya Electricity Generating Company (KenGen) has connected the Olkaria I unit 5 to the national grid, paving the way for the completion of the 280 Megawatt geothermal power project. The unit, still being tested, is now feeding 52.5MW of electricity to the national grid and marks the final phase in what is seen as a major step toward significantly lowering the cost of electricity in East Africa's largest economy. "On.... Read more »

Posted on : Thursday , 18th December 2014

Security companies reap from LNG exploration in Tanzania

 BG Group has contracted pan-African security provider Warrior Security Company to secure its sites in Tanzania, in a partnership that has seen the 3500-strong security company extend its recruitment drive and training programme and bring innovative terms and conditions to Tanzanian security staff.   To ensure top rate security at the sites, Warrior says it has introduced higher salaries, shorter shifts, staff transport and.... Read more »

Posted on : Thursday , 18th December 2014

Tanzania: Shot in the Arm for Energy Sector Projects

The United States government, through the Millennium Challenge Corporation (MCC), has promised to provide 78 million US dollars to support the development of high impact investment projects in the energy sector, it was announced yesterday. The agreement was signed on Friday in Dar es Salaam between the Minister for Finance and Economic Affairs, Ms Saada Mkuya and MCC Vice-President of Compact Operations, Mr Kamran Khan.   Speaking during.... Read more »

Posted on : Thursday , 18th December 2014

Tanzania: Over 1,000 to Access Power in Mbinga Next Year

 Dodoma — MORE than 1,100 people in Mbinga district, Ruvuma region, will be connected with electricity next year through the Rural Energy Agency (REA), Parliament was told on Tuesday.   This was said by Deputy Minister for Energy and Minerals, Charles Kitwanga, when responding to a question raised by Gaudence Kayombo (Mbinga North - CCM) who wanted to know about government plans to distribute electricity in all villages in.... Read more »

Posted on : Thursday , 18th December 2014

IDC looking to establish manufacturing plant in Africa

 The Industrial Development Corporation (IDC) has issued a call for proposals to conduct a prefeasibility study (PFS) on the establishment of a soda ash, or sodium carbonate, manufacturing plant in South Africa.   The IDC said soda ash was used in a number of manufacturing processes and, while the production of natural soda ash was largely dependent on trona ore reserves, present in Wyoming, in the US, synthetic soda ash was.... Read more »

Posted on : Thursday , 18th December 2014

Indian trade mission to Africa to generate millions

 The Federation of Gujarat Industries (FGI) hopes that its current, nine day, trade mission to South Africa will, on its own, generate at least $10-million in bilateral trade. So stated FGI senior VP and mission head Janak Seth at a trade briefing in Sandton (north Johannesburg) on Thursday. Gujarat is a coastal state in north west India.   While the state contains 5% of India’s population, it is responsible for 17% of the.... Read more »

Posted on : Thursday , 18th December 2014

Increasing enthusiasm in the African Steel industry

 There is a growing willingness from industry to accept different stainless steel materials, particularly duplex stainless steels, Southern Africa Stainless Steel Development Association Fabricator Sector chairperson Gary Crawford tells Engineering News.   He says that, for example, 2304 duplex stainless steel is now quite often specified for fabrication, noting that sole South African stainless steel manufacturer Columbus Stainless.... Read more »

Posted on : Thursday , 18th December 2014



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