Market News Page No. 540| Africa Business News | Afrotrade

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Zambia: 'Import Duty to Increase Oil Prices

THE increase of duty on imported edible oil will increase the prices of cooking oil in Zambia, cross border traders in Lusaka have said. In the 2015 Budget, the Government has proposed to increase the specific duty rate on refined edible oil to K2.20 per kilogramme from 85 ngwee per kilogramme to bring it the same as 25 per cent charged on imported refined edible oil. But traders say instead of increasing the import duty.... Read more »

Posted on : Saturday , 22nd November 2014

Investment opportunity to produce aluminium alloy wheels in Africa

The facility is earmarked to be an aluminium alloy manufacturing factory to provide products to both the original equipment manufacturers (OEM) and after-sale markets, locally and internationally. Negotiations are already underway to export the product to the United Kingdom (Wofrace and Dymang) and for the local supplier of OEMs Ford, Toyota and Hyundai. Raw material for production is readily available from BHP Billiton’s.... Read more »

Posted on : Saturday , 22nd November 2014

Piston manufacturing project seeks investment

The African aluminium industry is one of the industrial pillars of the South African economy. The country has primary smelters of its own which are performing well. South Africa’s last remaining piston manufacturer closed in the last five years, a victim of the global slowdown in the automotive industry. The country now imports pistons from various parts of the world to support the automotive industry and.... Read more »

Posted on : Saturday , 22nd November 2014

Seeking investment for Industrial Development

The Richards Bay Industrial Development Zone is seeking investors to invest in the production facility for carbonaceous paste for electrodes used in furnace linings. Carbonaceous electrode paste is used in closed electric smelting furnaces as a continuous self-baking electrode to produce calcium carbide and ferro-alloy. During the furnace operation the electrode paste acts as current conductor. Electrode paste is produced from.... Read more »

Posted on : Saturday , 22nd November 2014

Eni and Sonangol sign deal to develop gas in Angola

Angola-based Sonangol and Italy’s Eni have signed a cooperation agreement to develop gas resources in the southern African country According to the agreement, Eni and Sonangol will set up a joint team to study the potential of gas present in the Lower Congo Basin located offshore Angola. The joint team will then analyse the different gas valorisation options in both the international and the domestic market where.... Read more »

Posted on : Friday , 21st November 2014

TDW s SmartPlug aids safe execution of gas valve upgrade project offshore

Pipeline services specialist T.D. Williamson (TDW) has recently completed a gas valve upgrade project on a deepwater gas export pipeline offshore New Orleans in Gulf of Mexico with its SmartPlug tool TDW used its remote-controlled SmartPlug to isolate pressure in specific sections of pipelines and risers so that repairs or interventions can be carried out safely. Initially in 2012, TDW was required to isolate a 16-inch gas riser.... Read more »

Posted on : Friday , 21st November 2014

Tullow to commence drilling onshore Kenyan basin

UK-based oil and gas exploration firm Tullow has announced that it will start drilling for oil in the North Turkana Basin, located onshore Kenya TulloowTullow has also started to work on a series of basin opening wildcat wells in Kenya. The company said that the result from the basin-testing well will be made public early 2015. In addition to the drilling activities, the firm expects to drill five more exploration wells across its.... Read more »

Posted on : Friday , 21st November 2014

Dangote to invest in manufactuaring plant in Tanzania

Aliko Dangote is planning to invest in developing Mbinga coal mine in the southwest of Tanzania. This was disclosed during a meeting between Dangote and Tanzania’s Vice President Mohammed Gharib Bilal at the Africa Global Business Forum in Dubai. Dangote is expecting that the coal from the mine will be used to power Mtwara Cement plant, located in the same region in the country. The amount of investment for the new coal.... Read more »

Posted on : Friday , 21st November 2014

AVIC International to set up headquarters in Nairobi-Kenya at US$ 200m

AVIC International Holding Corporation has made public their intent to establish their African headquarters in Nairobi, Kenya. The project will be undertaken at a cost of US$ 200m. The building will be set up on a 2,500 square meters piece of land and will include commercial units, a hotel, residential units and offices. The time frame set for the project to be complete is five years and it is expected to create 2000 jobs during the.... Read more »

Posted on : Friday , 21st November 2014

Tanzania to undertake construction of mining and smelting plants

Tanzania is planning to start local commercial production of iron ore and steel by construction of related smelting plants. The National Development Corporation (NDC) has said that the country is also expecting to produce 1.1 million metric tones per year, with the first batch export expected in four years’ time. Construction of the iron ore mining and smelting plants at Liganga is expected to start off early next year, while they.... Read more »

Posted on : Friday , 21st November 2014

Tanzania to construct a new extraction plant at US$ 4bn

A new soda ash extraction plant will be constructed at Engaruka basin in the North of Tanzania. Construction of the new soda ash plant, which will have a targeted production of one million tons of soda ash per year, will start end of this year. National Development’s Corporation acting managing director Mlingi Mkucha has said that the government is looking for strategic partner for the project. Construction of the new soda ash.... Read more »

Posted on : Friday , 21st November 2014

GGBL sets up manufacturing unit facility East Africa

According to the Africa Web, the equipment known as the Cube, is valued at US$4.2mn. The plant is currently producing Gilbey’s Gin, which was launched in Accra last month. The facility’s production manager Michael Akman said the new plant would give GGBL an opportunity to expand its operations and introduce a variety of premium brands to the African market. GGBL corporate relations director Preba Greenstreet said,.... Read more »

Posted on : Friday , 21st November 2014

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