Market News Page No. 574| Africa Business News | Afrotrade

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Angola s liquefied natural gas plant to be reconstructed

Angola’s liquefied natural gas plant faces a long closure for reconstruction to fix design flaws and corrosion in the new plant. This renovation will result to an addition USD I.07bn to the cost of the whole project. Some of the investors in the 300km project at the natural gas plant situated in at the Atlantic Coast North of Luanda include Chevron, who is the biggest shareholder; Angolan State Energy Firm, Sonangol; Total;.... Read more »

Posted on : Tuesday , 30th September 2014

Pace of Oil & Gas Exploration in Sub-Saharan Africa Ignites the Market for Automation and Control Solutions

Capital spending on automation and control systems (ACS) within the sub-Saharan oil and gas industry is set to increase exponentially. The rising focus on process optimisation, discovery of new reserves, and expansion of the regional infrastructure is anticipated to generate fresh opportunities for equipment suppliers. New analysis from Frost & Sullivan, Automation and Control Solutions in Sub-Saharan Africa's Oil and Gas.... Read more »

Posted on : Tuesday , 30th September 2014

Tanzania eyes industrialised economy to increase development

The model of the economy envisioned by the National Development Vision will be led by modernised and highly productive agricultural activities which are effectively integrated and supported by industrial and service activities in the rural and urban areas. The Vision 2025 aims at achieving a high quality livelihood for Tanzanians people, attain good governance through the rule of law and develop a strong and competitive.... Read more »

Posted on : Monday , 29th September 2014

Italy to East Africa: We are here to invest and help expand industries

Italy rarely, if ever, features on the list of countries with a big presence in the East African region. Not anymore. Italy’s Minister of Economy and Finance was in Kigali and spoke to The EastAfrican’s BERNA NAMATA on the renewed interest in the region. There is growing interest from Italy — we recently launched the Italy-African initiative to intensify ties and facilitate economic integration between the Italian.... Read more »

Posted on : Monday , 29th September 2014

EAST AFRICA : Meet the market movers

The rapid growth of East Africa's 150-million strong population has seen housing stocks come under pressure, prompting construction firms to embark on ambitious projects in a bid to close the deficit. With GDP up by an average of 5% across the region in 2012, commercial and residential construction is pushing up sales of East Africa's steel products, which range from rebar and wire rod to cold rolled coil, galvanized sheet.... Read more »

Posted on : Monday , 29th September 2014

Australian firm expands foothold in Tanzania

Significantly, all of the tenements are located within 20 kilometres of the coast, are easily accessible by road, and accessible to port facilities. The acquisition will supplement Gunson’s construction ready Coburn Mineral Sands Project in Western Australia. Adding to the transformation changes, Gunson will gain former managing director of mineral sands behemoth Iluka Resources Mike Folwell as its new chairman to guide the.... Read more »

Posted on : Monday , 29th September 2014

British Firm Wins Africa Oil's Seismic Survey Tender

A UK registered company, IMC Geophysics Limited, has won the tender put up by Africa Oil to hire a company that will conduct seismic survey in the Ethiopian rift valley near Arba Minch town. The Canadian oil company, Africa Oil, is under preparation to collect seismic data from the new oil exploration block in southern Ethiopia, around Arba Minch. Africa Oil acquired the new oil exploration block (Rift Basin block) in.... Read more »

Posted on : Monday , 29th September 2014

Dana Gas Successful in Bids for 2 Onshore Concessions in Nile Delta

Dana Gas, the Middle East’s leading regional private sector natural gas company, revealed Monday that its wholly owned subsidiary, Dana Gas Egypt, has been awarded the North El Salhiya (Block 1) and El Matariya (Block 3) onshore Concessions in the Nile Delta as part of the 2014 EGAS bidding round held recently in Egypt. The Company will operate the Block 1 Concession Area on a 100 percent basis. It is expected that.... Read more »

Posted on : Monday , 29th September 2014

Zimbabwe: Green Fuel Unveils 85 Percent Ethanol Flex Kits

Green Fuel has introduced a new flexi fuel upgrade kit that allows motor vehicles to use various levels of blended fuel up to 85 percent of ethanol.Green Fuel is the country's sole ethanol-producing company and is a joint venture project between Macdom Investment and Government. The new flex fuel upgrade kits give fuel injectors more range to adjust to the fuel being used at a particular moment. Speaking after a.... Read more »

Posted on : Monday , 29th September 2014

Nigeria to construct a new $400m, 260MW power plant

The Nigeria Minister for Power, Mohammed Wakil, has signed an agreement that will see construction of a new 260MW power plant in Ewekoro, Ogun state. The Minister has described the event as a milestone, and which underscores the need to fast track the nation’s ongoing privatization exercise described as the biggest in the world. The new 260MW power plant deal brings on board the International Finance Corporation (IFC) –.... Read more »

Posted on : Monday , 29th September 2014

South Africa to buy power from DRC s Inga Dam

South Africa will be benefiting from power generated from a dam in the Democratic Republic of Congo (DRC), after the two sealed a purchase order for SA to buy electricity in six years time starting end of this month September. In the agreement, it is expected that South Africa will play the role of a “reliable purchaser” in order to support the Grand Inga (Inga 3 dam) development in western DRC. South Africa is.... Read more »

Posted on : Monday , 29th September 2014

EU grants US$ 2.55bn for sustainable energy development in five Africa countries

Five African heads of states have jointly signed a grant with the European Union President, Jose Manuel Barroso, in New York, a grant that will seek to woo private investors into sustainable energy development. The beneficiaries include Rwanda, Cape Verde, Cote D ‘voire, Liberia and Togo. The grant portions to the five states will be managed by their respective ministries of finance, and will only be awarded to private investors.... Read more »

Posted on : Monday , 29th September 2014

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