Market News Page No. 576| Africa Business News | Afrotrade

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Kenya: Standard Railway Project Set for October

CONSTRUCTION of the multibillion-shilling standard gauge railway is expected to start in October, Infrastructure PS John Kipng'etich has said. Contractor China Road and Bridge Corporation has started putting up camps at Mariakani, Mtito Andei and Athi River. The camps will aid the construction of the first phase of the Sh327 billion project covering 609km from Mombasa port to Nairobi. Speaking when he toured the.... Read more »

Posted on : Friday , 5th September 2014

Ebonyi to build $1.14b independent power plant

TransGlobe Energy has announced the discovery of a Lower Nukhul oil discovery at NWG 3, a gas/condensate test at North Dabaa 2, and has been awarded a new concession in Egypt’s Western DesertThe oilwell at Lower Nakhul was drilled to a total depth of 1,633 metres and encountered 12.8 metres of net oil pay in the prolific Lower Nukhul formation based on well logs and oil recovered on wireline samples. The Lower Nukhul sandstone.... Read more »

Posted on : Friday , 5th September 2014

Egypt:TransGlobe Energy discovers oil and wins concession

TransGlobe Energy has announced the discovery of a Lower Nukhul oil discovery at NWG 3, a gas/condensate test at North Dabaa 2, and has been awarded a new concession in Egypt’s Western DesertThe oilwell at Lower Nakhul was drilled to a total depth of 1,633 metres and encountered 12.8 metres of net oil pay in the prolific Lower Nukhul formation based on well logs and oil recovered on wireline samples. The Lower Nukhul sandstone.... Read more »

Posted on : Friday , 5th September 2014

New Porsche Model Enters in Kenya's Car Market

Kenya: Competition for a share of Kenya's top-end luxury car market has risen a notch higher after the entry of the Porsche Macan, a sports utility vehicle, made its debut Thursday. Franchise holder of Porsche brands in Kenya, Multiple Group, has also opened a state-of-the-art Porsche Centre, a showroom and after-sales centre at the Sameer Business Park on Mombasa Road. The Sh178 million ($2m) showroom and service centre will house up to seven.... Read more »

Posted on : Friday , 5th September 2014

East Africa majour market for ExSolar

The Exporter Cc has two divisions : Radio Export which is a leading supplier of Motorola radio solutions and two-way radio products and ExSolar, a PV solar systems and components distributor. Both operate on a large scale in the export industry in Africa and the Middle East. When it comes to radio communication equipment, they hold substantial stocks of Motorola equipment in their South African offices. They are also in a position to.... Read more »

Posted on : Thursday , 4th September 2014

US firm to build 100MW geothermal power plant in Kenya

Ormat Technologies, a US power firm has been selected among three other companies to build the 100MWgeothermal power plant in Menengai, Kenya, set to begin in December this year. This will be among other projects which will see Kenya’s energy capacity rise to 5,000MW from 1,533 MW. The Geothermal Development Company (GDC) picked Ormat Technologies through its wholly-owned subsidiaries OrPower 4, Quantum Power and local firm Sosian.... Read more »

Posted on : Thursday , 4th September 2014

Alten to develop 40MW solar plant in Kenya

Alten Kenya Solarfarms is expected to set up a 40MW solar plant in Kesses, Uasin Gishu county Kenya. The solar plant will be located on a 371 acre piece of land in Kesses near Moi University, Eldoret. The project is expected to cost around US$10m for infrastructure development alone. The project is expected to be ready in 10 to 14 months once the power purchase agreement (PPA) has been signed between Alten Kenya Solarfarms and Kenya.... Read more »

Posted on : Thursday , 4th September 2014

BASF opens new admixtures plant in Kenyan capital

German chemical manufacturer BASF has opened a new admixtures production plant at Nairobi in KenyaAccording to company officials, the facility will enable the company to meet the rising demands for construction chemicals in East Africa. Dick Purchase, head of regional business unit for construction chemicals at BASF Middle East, West Africa, CIA and Africa, said, “We are now able to rapidly supply our customers with admixtures for.... Read more »

Posted on : Thursday , 4th September 2014

Namibia:Global Petroleum s subsidiary gets licence extension

Global Petroleum’s wholly-owned subsidiary Jupiter Petroleum (Namibia) has received a 12-month extension on the initial exploration period of Petroleum Exploration Licence No. 29, which covers blocks 1910B and 2010A in Walvis Basin offshore Namibia According to the firm, the initial exploration period of the licence will now be valid until December 2015. Entering into the second period of the licence with Namibian Ministry of Mines.... Read more »

Posted on : Thursday , 4th September 2014

Ghana:Lukoil finds oil and gas offshore

Emmanuel Armah-Kofi Buah, energy minister of Ghana, said, “Lukoil has come to report a discovery and under the petroleum agreement they have 90 days to do an appraisal to determine whether it is commercial.” Lukoil joined the project for exploration, appraisal, development and production of hydrocarbons on the CTPDW Block in July 2006. A new framework agreement on the project was signed in June 2009. The project participants.... Read more »

Posted on : Thursday , 4th September 2014

British Companies Explore More Kenya Oil

Nairobi — TOWER Resources, the British oil and gas exploration firm, expressed encouragement at progress made in its operation in Kenya. The company is involved in a couple of wells in the East African country. "(Tower is in) preparation for the drilling of the potentially play-opening Badada-1 well, Block 2B, Kenya, including the ordering of long-lead items. "Encouraging result from Sala-1 well in the.... Read more »

Posted on : Thursday , 4th September 2014

East Africa to adopt cleaner fuel standards in 2015

Plans for five countries in East Africa to adopt cleaner fuel standards in 2015 are likely to help absorb excess low-sulphur oil products coming out of Middle East and Indian refineries, where new capacity is being added, industry sources said. Rwanda, Kenya, Tanzania, Uganda and Burundi are due to switch to the cleaner fuels from January 2015, according to documents posted on the websites of the regional intergovernmental organisation.... Read more »

Posted on : Thursday , 4th September 2014

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