Market News Page No. 385| Africa Business News | Afrotrade

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Rwf11 Billion for Nyagatare-Rukomo Road Construction

The Government of Rwanda and Saudi Fund for Development (SFD) yesterday signed a $15 million (approximately Rwf11.2 billion) concessional loan to fund the construction of Nyagatare-Rukomo road. The 30 year concessional loan will support the construction of a 7 meter wide, 73 kilometer two lane tarmac road between Nyagatare and Rukomo, Claver Gatete, Minister for finance and economic planning said. He added that the loan comes.... Read more »

Posted on : Thursday , 31st December 2015

Athi River Cement Eyes Sh12.7 Billion Expansion Plan

Cement manufacturer Athi River Mining (ARM) is talking to a strategic investor to support its expansion plans. The firm, while remaining cagey about what the planned capital injection to the tune of Sh12.7 billion on Monday said, "discussions are still going on and further details of the investment shall be made available to the shareholders of the company and the public in due course." "ARM Cement Limited is.... Read more »

Posted on : Thursday , 31st December 2015

Ethiopia: Road Construction At Legehar Resumes

Flawed design delayed this project though the first segment of road was completed 10 years ago A road design which had intended to demolish the historic building at the La Gare train station finally gave way to another design that makes a detour, allowing road construction to resume on December 14, 2015, after a delay of 10 years. The construction, which is now expected to be completed in three months, initially envisioned the.... Read more »

Posted on : Thursday , 31st December 2015

Ghana: U.S.$1.5 Billion Tema Port Expansion Project Starts 2016

Expansion works on the Tema Port will start next year. The first phase of the $1.5 billion project is expected to be done in about three years. The port is expected to handle thrice its current traffic of about one million Twenty-foot Equivalent Units (TEUs) when completed, according to marketing and public relations manager Paul Asare Ansah. The investment, according to Mr Ansah, "is going to expand the capacity of the.... Read more »

Posted on : Thursday , 31st December 2015

Umeme Ltd nears completion of substation for Ugandan township

Uganda’s power utility company Umeme Limited is in the final stages of constructing a 40 MVA substation in the Namugongo township The new facility will help reduce losses during the distribution of power and also provide stable power around Namanve, Kireka, Namugongo and Kyaliwajjala areas. Project officials revealed that US$5mn was spent on constructing the power plant, while US$2mn was spent on feeder lines. Power from.... Read more »

Posted on : Tuesday , 29th December 2015

IFC and Alten-led consortium to develop 120MW PV plant in Nigeria

International Finance Corporation (IFC) and Alten Middle Band Solar One have agreed to jointly develop a 120MW solar photovoltaic power project in Kogi State, Nigeria Alten has signed the agreement with a consortium of power plant developers such as Green Continent Partners Holding B.V. and Nemoante. The Kogi State plant will supply power to around 175,000 individuals as well as industrial clusters. “Under the agreement,.... Read more »

Posted on : Tuesday , 29th December 2015

India Export Council partners with logistics firm Bollore Africa for pharma product storage

The India Pharmaceutical Export Council has entered into a partnership with logistics firm Bollore-Africa to allow pharmaceutical companies from the country to store their products shipped to that continent. Following the agreement with Bollore-Africa, India’s first in the pharmaceutical sector, the Pharmaceuticals Export Promotion Council (Pharmexcil) hopes a common warehousing facility in Nigeria will be operational by February.... Read more »

Posted on : Tuesday , 29th December 2015

40 CNG buses for Tshwane rapid transit system

Daimler Trucks & Buses South Africa (DTBSA) is supplying around 40 compressed natural gas (CNG) buses to the Tshwane rapid transit system, with the first buses to be in operation in the first quarter of next year, says DTBSA executive director Kobus van Zyl. “We are busy with the homologation process.” Van Zyl says the City of Tshwane is responsible for providing the fuelling infrastructure for the CNG fleet. A CNG bus would.... Read more »

Posted on : Tuesday , 29th December 2015

Heavy-commercial vehicle servicing facility opens in Nairobi

A new MAN and Volkswagen (VW) heavy-commercial vehicle servicing facility has opened in Nairobi, Kenya. The R32.5-million, 9 000 m2 facility is owned by industrialist Rajinder Singh Baryan, MD of RT East Africa Limited (RTEAL). Print Send to Friend 0 0 “The new facility will offer after-sales service for MAN trucks, with . . . 12 truck service bays, and carry an extensive inventory of MAN parts,” says Baryan. “Our new.... Read more »

Posted on : Tuesday , 29th December 2015

Kenya in Talks With Miners Over New Royalties

The government plans to fastrack implementation of higher mining royalties to give Kenyans a bigger share of earnings from the country's mineral resources, newly appointed Mining Cabinet secretary Dan Kazungu said yesterday. Kazungu said the government is negotiating with miners for a new royalty structure, and any new miner will abide to the updated rates. "We are negotiating with the companies that have been paying.... Read more »

Posted on : Tuesday , 29th December 2015

East Africa to Focus On Gas, Oil Finds

Major gas discoveries in Tanzania and prospects for oil find will be among topics for discussion during the fourth East African Oil and Gas Summit slated for February 10 to 12 in Nairobi. Also on agenda is the recent discover of over 100 metres of net oil play in northern Kenya by Tullow Oil and its partner Africa Oil Corp. The oil find at Etom-2 well near Lake Turkana has been viewed as the best quality discovery in the region to.... Read more »

Posted on : Tuesday , 29th December 2015

Panafrican Group partners with Canadian college for technical growth in Industrialization

The Panafrican Group, which has operations in East and West Africa, has partnered with Canada’s College of the Rockies (COTR) to create a learning programme for technicians shutterstock 303577625Panafrican Group provides equipment such as Komatsu for a range of applications including mining. According to the company, the COTR and Panafrican will create the Prior Learning Recognition Program that will award Panafrican.... Read more »

Posted on : Tuesday , 29th December 2015

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