Market News Page No. 570| Africa Business News | Afrotrade

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Egypt to tender five US$ 2.8 b new technology parks project

The government of Egypt has unveiled plans to tender five projects to construct modern technology parks across the country at an estimated US$ 2.8 b to boost its revenues. This follows planned issuance of a unified landline and mobile telecoms licenses. Egypt’s Minister of Communications and Information Technology (MCIT), Mr. Atef Helmy, confirmed the planed issuance of the bids for the five projects. Mr Helmy also said that the.... Read more »

Posted on : Tuesday , 16th September 2014

Chinese firms to construct the new US$ 700m Gebba River Dam, Ethiopia

The Ethiopian Government has awarded a contract for the construction of a new Gebba River Dam. The cost of the contract is US$700m. It will be built along Gebba River, near the border of Jimma and Illubabur zones of the Oromia Regional State. The contract for the new Gebba River Dam was awarded through the Ethiopian Electric Power Corporation (EEPCo), which is mandated to producing, transmitting, distributing and selling electrical energy in.... Read more »

Posted on : Tuesday , 16th September 2014

Tanzania: As Dar Port Gets Sh800 Billion for Expansion

A MEMORANDUM of Understanding (MoU) between Tanzania Ports Authority (TPA), Ministry of Transport and World Bank, UK's Department for International Development (DFID) with Trade Mark East Africa has been signed for a 500 million US dollars (over 800bn/-) financing for Dar es Salaam port expansion and modernisation. The MoU signing ceremony was witnessed by Transport Minister, Dr Harrison Mwakyembe and visiting World Bank Managing Director.... Read more »

Posted on : Tuesday , 16th September 2014

Algeria postpones oil and gas bids to accommodate foreign companies

The government of Algeria has confirmed postponement of the oil and gas bids for its plants till end of September this year. This comes after the government submitted to the request by international energy companies to delay the process further, to allow some foreign more time to assess the potential of all the fields. ALNAFT, an energy agency that is handling bids said earlier this year June that the delay would be.... Read more »

Posted on : Monday , 15th September 2014

Nigeria: China Indicates More Interest in Nigeria's Oil, Gas

MR Liu Kan, the Consul-General of the Consulate General of People's Republic of China in Lagos, on Thursday expressed his country's growing interest in Nigeria's oil and gas industry. Liu told the News Agency of Nigeria (NAN) in Lagos that China would also depend on Nigeria to satisfy the demand of her increasing population for crude oil and gas. "China is the most populous nation in the world and her demand for oil.... Read more »

Posted on : Monday , 15th September 2014

Ethiopia: New UK Company Acquires Oil Exploration Blocks in Ogaden

A new UK-based company, Delonex Energy Limited, two weeks ago acquired oil exploration blocks in the Ogaden basin, in eastern Ethiopia. Delonex Energy is an oil and gas exploration company focused on sub-Saharan Africa. In a statement issued on August 25, Delenox Energy said that the Ethiopian Ministry of Mines had awarded it an exploration license in the Ogaden basin. The license area covers blocks 18, 19, and 21,.... Read more »

Posted on : Monday , 15th September 2014

Nigeria: Access Expansion Drive - FG Leverages On Draft National Policy On Renewable Energy

The Minister of Power, Prof. Chinedu Nebo has disclosed that the proposed National Policy on Renewable Energy and energy efficiency has been conceived by Government to drive its quest for electricity expansion nation-wide. The Minister, who was represented by his Senior Special Assistant, Prof, Chidi Onyia, averred that the proposed policy framework that will drive renewable energy issues is a product that would be well accepted.... Read more »

Posted on : Monday , 15th September 2014

Ethiopia: Geothermal Plant to Be Operational in April - Ministry

Ethiopia is striving for the operation of the Aluto-Langano geothermal power plant with installed capacity of 70mw power in this fiscal year, the Ministry of Water, Irrigation and Energy said. Energy Study and Development Follow-up Director, Gosaye Mengistie said over 78 percent of construction of the geothermal plant has so far been finalized. It is expected that the plant will commence operation in.... Read more »

Posted on : Monday , 15th September 2014

Saudi Arabi agrees to supply Zambia with petroleum

Zambia and Saudi Arabia have agreed terms on a possible government-to-government deal that will enable the oil-rich Middle East country to supply the mineral-rich State with petroleum in bulk on a long-term basis. Mines, Energy and Water Development Minister Christopher Yaluma said in an interview that Saudi Arabia had agreed to supply Zambia with significant quantities of petroleum on a government-to-government contract to be signed.... Read more »

Posted on : Monday , 15th September 2014

Kenya and Norway to sign petroleum resources agreement

Kenya and Norway will sign an agreement on petroleum resources to help the east African country manage new oil discoveries, Norway’s new ambassador to Kenya was quoted as saying. “We are considering a long-term agreement with Kenya’s ministry of energy and petroleum on effective and socially responsible management of petroleum resources,” Victor Ronneberg said, according to a note issued by Kenya’s.... Read more »

Posted on : Monday , 15th September 2014

Link Zambia 8000 road project is driving demand for earth-moving equipments

Dr Guy Scott, the vice president of Zambia has said that the recently unveiled phase of Link Zambia 8000 road project is driving demand for earth-moving equipments in the country. Scott’s message was read by Labour and Social Security Minister Fackson Shamenda in the unveiling of the plaque at the U.S$ 14m Barloworld Equipment Kitwe facility. Scott said the Link Zambia project was creating new opportunities for Small and Medium.... Read more »

Posted on : Friday , 12th September 2014

Construction of US$ 7.66b new modderfontein city in South Africa

Hong Kong- listed property development Group Shanghai Zendai will be constructing a US$ 7.66bn new Modderfontein City in South Africa starting next year. The project will comprise construction of a university, schools and a contemporary African gallery. Development of infrastructure, among them a Gautrain station planned for the next four to five years, is part of construction works awarded about US$ 273m. The city will mainly host.... Read more »

Posted on : Friday , 12th September 2014

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