Market News Page No. 563| Africa Business News | Afrotrade

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Zimbabwe to Get 1200MW Thermal Power Station

A 1200 MW thermal power station and a coal mine are set to be constructed in Western Zimbabwe, after three firms from China came up with the proposal. These projects will help cut down on power shortages in a country where only 1100MW of power is being produced at the moment. This is just half of what consumers really need. The three companies under the thermal power station deal are Shanghai Electric, Shenergy Co Ltd.... Read more »

Posted on : Monday , 22nd September 2014

Power sector investment ll hit $20bn in 2017 �NERC

Investment in electricity will average $20bn per annum in 2017, the Chief Executive Officer, Nigerian Electricity Regulatory Commission, Mr. Sam Amadi, has said. Amadi spoke at a seminar tagged, ‘Dividends of Privatisation of the Nigerian Power Sector’, organised by the financial services group of the Lagos Chamber of Commerce and Industry. Amadi, who was represented by the Head of NERC South West, Zonal Office, Mr..... Read more »

Posted on : Friday , 19th September 2014

Kenya oil resources to almost double with more drilling

Kenya expects its estimate of oil resources to almost double to 1 Bbbl as well-drilling climbs and the government forges ahead with plans to build an export pipeline, an energy ministry official said. Tullow Oil Plc. and its partner Africa Oil Corp. have discovered an estimated 600 MMbbl of oil in the South Lokichar basin since announcing the country’s first crude find in March 2012. The discovery has spurred the East African nation.... Read more »

Posted on : Friday , 19th September 2014

US$ 331m to be spent on road network expansion in Ethiopia

The Addis Ababa City Roads Authority (AACRA) has set aside US$331m for roads in the Addis Ababa city, Ethiopia. The city of Addis Ababa presently has a road network covering 4671km, which is expected to be increased to 5275km. The project seeks to add 600km of road to the city’s road network. The Akaki Kaliti-Tulu Dimtu road will also be expanded, and reconstruction of the Akaki Bridge as part of this.... Read more »

Posted on : Friday , 19th September 2014

Phase II of PDGM gas distribution project to kick off in Mozambique

The second phase of distribution of Maputo and Marracuene Natural Gas Distribution Project (PDGM) is set to begin in a few days, according to Mozambique’s National Hydrocarbon Company (ENH). This is after the signing of contract last Friday, between ENH-Kogas and Kogas-Mocambique, the sole contractor in the whole process. Phase II of the Maputo and Marracuene Natural Gas Distribution Project will entail construction of a.... Read more »

Posted on : Friday , 19th September 2014

Eren Holdings to invest in a new cement production plant in Cameroon

CEO of Turkish Eren Holdings has signed an investment agreement that will see the company undertake a new project, involving construction of a new cement production plant in Cameroon. The agreement was signed last week between the CEO and government of Cameroon. The new cement plant will be constructed by Eren, through its local subsidiary, Medcem Cameroon. Expected to be operational in 2015, the cement.... Read more »

Posted on : Friday , 19th September 2014

Construction of Nairobi s tallest tower now awaits court s approval

Construction of Hazina Trade Centre into what is to be Nairobi’s tallest tower has been stalled, pending a court ruling to be made in seven days. The project was being undertaken by the National social Security Fund (NSSF) at a cost of US$ 75m. The construction project had been challenged by Nakumatt Holdings, whose Nakumatt Lifestyle branch is housed in the current building. NSSF owns the Hazina Trade Centre. This is after.... Read more »

Posted on : Friday , 19th September 2014

Zambia s US$259.3m Kazungula Bridge project kicks off

Construction of the large Zambia’s Kazungula brigde has started after the ground-breaking ceremony was held on the Botswana side of the Kazungula border on 12th of this month. The ground-breaking ceremony was led by Vice –President Guy Scott and his Botswana counterpart, Ponatshego Kedikilwe. The former urged the contractor and supervising engineer to wrap up on working on a US$259.3 Kazungula Bridge project.... Read more »

Posted on : Friday , 19th September 2014

New US$ 2.6bn Safi thermal power plant to be built in Morocco

All is set for construction of the to-be-largest ever thermal power in Morocco, Safi thermal power plant, after signing of investment contract relating to the setting up of the plant. The signing of the contracts was done in presence of Government Chief Abdelilah Benkirane in Rabat on Wednesday this week. Once completed, Safi thermal power plant will give off 1, 386MW of power and will be part of the government’s strategy to.... Read more »

Posted on : Friday , 19th September 2014

Egypt: Cabinet Decision Allows Renewable Energy Authority to Produce and Sell Electricity

Cairo — Egypt's cabinet amended on Wednesday the law governing the New and Renewable Energy Authority (NREA) to allow the authority to form companies to produce and sell electricity. The NREA works under the auspices of the ministry of electricity. It is concerned with carrying out projects for the production and use of renewable energy. As per the new amendment, the authority will now be capable of luring investors.... Read more »

Posted on : Thursday , 18th September 2014

Zimbabwe: Swiss Company Signs Solar Power Deal With Zinwa

SWISS energy and communications company Meeco Group, through its Zimbabwean subsidiary, Our Sun Energy, has signed a multi-million dollar deal with the Zimbabwe National Water Authority to provide solar power to the parastatal's existing water treatment facilities across the country. The deal is part of a Public-Private Partnership arrangement and will see the Swiss company eventually take over the designing, construction and.... Read more »

Posted on : Thursday , 18th September 2014

Total resumes $2.5bn Usan Deepwater oil block sale

France’s Total SA, Europe’s second largest oil company, has put one of its offshore Nigerian oil fields up for sale for the second time, the company said, after a 2012 deal with Sinopec Corp of China failed. Total has hired BNP Paribas to find buyers for its Usan deepwater oil field located in Oil Mining Lease (OML) 138, which could be worth about $2.5 billion, according to sources familiar with the matter. “We have.... Read more »

Posted on : Wednesday , 17th September 2014

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