Market News Page No. 573| Africa Business News | Afrotrade

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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

Kenya Told to Promote Use of Fuel-Saving Cars

THE government has been urged to adopt policies that encourage purchase and use of fuel efficient vehicles to reduce the country's carbon footprint. According to Jane Wanjiru Akumu, the duty paid for new vehicles is higher compared to that charged when importing a used vehicle while it should be the other way round. "We are working with the Energy Regulation Commission to come up with policies that can encourage vehicle.... Read more »

Posted on : Thursday , 4th September 2014

Nigeria:Power generation hits 4,044mw, improves electricity supply

Electricity generation in the country has hit 4,044 megawatts (MW) on account of improved gas supply to generation stations and the rise in the water level at the various hydro power stations typical of the rainy season. The generation level, according to sources in the power sector, is expected to continue to improve with more gas being supplied and incentives given to gas producers to produce more. Reacting to the improved power.... Read more »

Posted on : Thursday , 4th September 2014

PTA approves US$138m grant for Infrastructure and other projects in Tanzania

The government of Tanzania has received a US$138m grant from the Eastern and Southern African Trade and Development Bank (PTA). The funds will be used in three infrastructural projects and three syndicated loans. Kilwa Energy will receive US$50m, while 21st Century which is a food and packaging firm will get US$20m and Sea rock getting US$3m of the funds set aside for infrastructure. Tanzania Electric Supply Company (TANESCO) received.... Read more »

Posted on : Wednesday , 3rd September 2014

Proposed Dangote cement factory in Kenya: production capacity revised to 3 million tonnes per year

The proposed Dangote cement factory in Kenya is now set to produce double the initial planned capacity, indicating the rise in demand of cement in Kenya. The announcement, made in the company’s trading update, could also fuel price wars for cement in Kenya. The company said it was reviewing plans for Kenya, with a proposal of increasing the cement production capacity from 1.5 million tonnes per annum (MTA) to 3MTA. The proposed Dangote.... Read more »

Posted on : Wednesday , 3rd September 2014

Demand for construction equipment in Kenya to go up due to upcoming roads projects

Many construction projects in Kenya, among them the government’s commitment to construct 10, 000 km of additional network, is set to increase demand for construction equipment. The Kenya Rural Roads Authority (Kerra) has also indicated that the roads network requires 540 excavators, 1080 rollers and 1440 movers to implement. This is good news for the suppliers and dealers of construction equipment in the region. According to Kerra,.... Read more »

Posted on : Wednesday , 3rd September 2014

Outer Ring Road in Kenya to be expanded into a dual carriage at US$82m

Sino Hydro Tianjin Engineering will undertake expanding of the Outer Ring Road in Nairobi, Kenya at a cost of US$82m. This is after beating other eight firms that submitted bids in the tendering process. The 13 km stretch that feeds the Thika superhighway on the one end will now be expanded into a two-lane dual carriage. Instead of roundabouts, interchanges will now be used. The expansion is expected to start from October this year. The.... Read more »

Posted on : Wednesday , 3rd September 2014

US$11bn new Bagamoyo port project in Tanzania to kick off this year

GULF Energy has won the tender for the development of a 960 megawatt coal plant in Lamu, the Ministry of Energy and Petroleum announced yesterday. However two other firms which had shown interest in the tender and made it to the tip list and considering appealing the award. The chairman of the Lamu coal tender evaluation team, Simon Ngure said Gulf Energy demonstrated it will bill the lowest fuel charge even after the fuel price for.... Read more »

Posted on : Wednesday , 3rd September 2014

Tanzania s Ngaka Basin can produce one billion tons of high quality thermal coal

Tanzania has the potential of bringing birth to one billion tons of high quality thermal coal. The expected one billion tons of thermal coal would come from Tancoal proven coal resources that are in the excess of 200 million tons, plus the Ngaka Basin, Mbalawala and Mbuyura/ Mkapa sub-basins. Tancoal’s Chief Operating Officer, Tarn Brereton, confirmed this and said that out of this revelation, Ngaka Coal Mine reserves can serve.... Read more »

Posted on : Wednesday , 3rd September 2014

Kenya: Sh11 Billion for Electricity in Rural Schools &Homes

THE government will spend Sh11 billion on rural electrification programmes this year. The plan aims to connect more than 1 million households, primary schools, markets and other public facilities to the power grid. Rural Electrification Authority chairman Simon Gicharu said the government has provided enough funding. "By the end of 2015 we will have achieved our target. This will completely turn around the economy," he.... Read more »

Posted on : Wednesday , 3rd September 2014

Two Kenyan firms win US$2bn Lamu coal plant project bid

Two local firms, Gulf Energy Limited and Centum Investment Company Limited, have successfully won the bid for construction of the Lamu coal plant. The power plant is going to be constructed at a cost of US$2bn in Mombasa, Kenya. US$500m to be used in construction will be provided by equity fund, and the balance will be funded through debt. Once complete, the plant is expected to add up to 960MW of electricity to Kenya’s national.... Read more »

Posted on : Wednesday , 3rd September 2014

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