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

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Arab Contractors seals new housing contract with Algeria

Arab Contractors Company (AC), Egypt’s leading Construction Company is set to sign a new contract for implementation of various housing projects in Algeria this month. The contract is to be signed this month between the Government of Algeria and the company, according to the Chairman of Arab Contractors Company (AC), Mr. Mohsen Salah. The signing of the awarding of the contract to the Arab Contractors Company (AC) is expected to boost.... Read more »

Posted on : Thursday , 11th September 2014

US $80m Zim Plant in Zimbabwe to be completed by 2016

Construction of the cement plant, Zim in Zimbabwe, will be completed by 2016 according to PPC Zimbabwe division. The plant will all cost US$ 80m upon completion. The company’s managing director Mr Njombo Nekula said Environmental Impact Assessment for the Zim Plant project was already approved, and construction has begun. The new Zim mill in Harare will give a competitive advantage to the company, and help reduce production costs since.... Read more »

Posted on : Thursday , 11th September 2014

Tender announced for US$ 465m Dar es Salaam maritime gateway improvement project, Tanzania

Tanzania Ports Authority has called on bidders to tender for the Dar es Salaam maritime gateway improvement project, which will be funded by the World Bank through the International Bank for Reconstruction and Development (IBRD). The Dar es Salaam maritime gateway improvement project, which entails designing and building of roll-on roll-off terminal in the Dar es Salaam port, deepening and strengthening berths 1-7 at the port, and construction.... Read more »

Posted on : Thursday , 11th September 2014

US$ 110.54b secured for the Mombasa�Bujumbura highway

The African Development Bank (AfDB) has given Kenya a loan worth US$ 110.54b to construct Mombasa–Bujumbura highway that will link Kenya and Rwanda. Branching off the Northern Corridor at Voi, the Mombasa–Bujumbura highway will stretch 1550 kilometers. The road will also connect the Central Corridor to Tanzania at Moshi. It will also cross Arusha and Singida, on its way to Bujumbura. The highway will be shorter than the.... Read more »

Posted on : Thursday , 11th September 2014

Tender announced maritime gateway improvement project in Dar es Salaam

Tanzania Ports Authority has called on bidders to tender for the Dar es Salaam maritime gateway improvement project, which will be funded by the World Bank through the International Bank for Reconstruction and Development (IBRD). The Dar es Salaam maritime gateway improvement project, which entails designing and building of roll-on roll-off terminal in the Dar es Salaam port, deepening and strengthening berths 1-7 at the port, and.... Read more »

Posted on : Thursday , 11th September 2014

US$5bn given to Mozambique for infrastructure among other projects

Investment worth US$5bn was approved for three provinces in Mozambique. It was noted that the approved investments will help the North of Mozambique undertake several projects in agriculture, forestry, infrastructure, tourism, and hydrocarbon sector. The projects are aimed at creating opportunities for small, micro and medium-sized national companies. The projects are also expected to create 20,000 job opportunities in the three.... Read more »

Posted on : Thursday , 11th September 2014

Tanzania receives US$185m from MIGA for development projects

The private sector in Tanzania has a received a US$185m grant from the World Bank. The funds were released by the Multilateral Investment Guarantee Agency (MIGA). The aim of the funds is to help in projects in infrastructure, mining and energy sectors. MIGA Vice President and Chief Operating Officer, Michael Wormser said that MIGA is looking for ways to partner with government to ensure creation of jobs and improve infrastructure. The.... Read more »

Posted on : Thursday , 11th September 2014

US$ 110.54b secured for the Mombasa-Bujumbura highway

The African Development Bank (AfDB) has given Kenya a loan worth US$ 110.54b to construct Mombasa–Bujumbura highway that will link Kenya and Rwanda. Branching off the Northern Corridor at Voi, the Mombasa–Bujumbura highway will stretch 1550 kilometers. The road will also connect the Central Corridor to Tanzania at Moshi. It will also cross Arusha and Singida, on its way to Bujumbura. The highway will be shorter than.... Read more »

Posted on : Thursday , 11th September 2014

Rukwa coal mine confirmed as suitable power station fuel source

Preliminary economic and technical evaluations of mineral exploration and development company Kibo Mining’s Rukwa Coal to Power project, in Tanzania, have confirmed the Rukwa mine as a suitable fuel source for a 300 MW mine-mouth coal-fired power station. Kibo said on Tuesday that the indicative life-of-plant for the Rukwa power station required 28.8-million tons of coal over 20 years, which amounted to only 48% of the current.... Read more »

Posted on : Wednesday , 10th September 2014

Nigeria, 7 other African countries set for oil, gas boom

Nigeria and seven other African oil producing countries could experience boom in the coming years, with Mozambique and Tanzania set to emerge as new frontiers, if they can attract enough investment, a report by PriceWaterhouseCoopers has stated. The report also stated that six of the top 10 global discoveries in 2013 were made in Africa, with more than 500 companies now exploring across to the continent. Large gas finds in Mozambique and.... Read more »

Posted on : Wednesday , 10th September 2014

Orrick advises Maurel & Prom on renewal of Gabon licenses and renegotiation of PSA

Orrick Rambaud Martel has advised Établissements Maurel & Prom, one of France’s largest oil companies, on the renewal of its seven exclusive exploitation and development licenses in Gabon covering 6,100 km and on the renegotiation of the related production sharing contract with the Government. The Gabonese State and Maurel & Prom S.A., the Gabonese subsidiary of the French oil & gas exploration company listed on.... Read more »

Posted on : Wednesday , 10th September 2014

Ghana Gas ready as final test proves successful

The Ghana National Gas Company (Ghana Gas) has expressed satisfaction with work on the Atuabo Gas Plant as a test run on the plant proved successful. A series of tests was carried out over the weekend on the 111-kilometre Onshore pipelines from Atuabo in the Ellembelle district to Aboadze in the Shama district. The test formed part of the process to check the integrity of the pipeline and to identify and correct potential leakages along.... Read more »

Posted on : Wednesday , 10th September 2014

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