Market News Page No. 539| Africa Business News

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 »