Market News Page No. 549| Africa Business News | Afrotrade

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Kenya: Tarmac road to be built in Lodwar

Work on a six-kilometre tarmac road in Lodwar has begun and is expected to be completed in the next nine months. This is an extension of a 3.2 kilometre tarmac road handed over to the county government by the Kenya Urban Roads Authority (Kura) Managing Director Joseph Nkadayo in July. The road, which traverses the town, was completed at a cost of Sh168 million. County Roads chief officer Emmanuel Ekai said in an interview that the.... Read more »

Posted on : Friday , 14th November 2014

US firm Tetra Tech Inc to oversee development of Kenya s smart city

Colorado-centred Tetra Tech Inc is the lead firm for the project and has been contracted as the Master Delivery Partner 2 (MDP2) for the smart city project in Kenya. The MDP2 is a consortium of 11 firms from the US, Germany, Netherlands, UAE and five firms from the east African nation. Michael Rothhammer, vice-president of Tetra Tech Inc, said, “With years of experience in signing and developing technology across the globe, we will.... Read more »

Posted on : Friday , 14th November 2014

Fluor extends operations in Africa

According to Fluor, the new office will support Africa in working towards expanding its economy and human development. “We want to meaningfully contribute to its development by supporting clients with engineering, procurement, construction and maintenance services,” said country manager, James Hughes. The new office will assist in the launch of Fluor’s projects across multiple industries including oil, gas and.... Read more »

Posted on : Friday , 14th November 2014

Chinese steel producer to build its largest overseas steel mill in Africa

Hebei Iron & Steel Group has signed a 51 per cent stake in a venture with the Industrial Development Corporation of South Africa and the China-Africa Development Fund to build the mill. Company officials, however, did not reveal the project cost. The plant is expected to produce five metric tonnes of construction steel by 2019. Production is likely to begin in 2015, stated a report in The Wall Street Journal. China produces 43.... Read more »

Posted on : Friday , 14th November 2014

Nairobi signs US$75 million transport deal with Chinese auto manufacturer

The Nairobi county has signed a US$75mn deal with Chinese auto manufacturer Foton Motor to buy 266 buses for the city’s metro transport system. The 62-seater buses cost US$118,000 and part of the funds allocated for the deal would be utilized to design and develop terminals and fleet management systems, the government officials said. The deal was signed by Evans Kidero, governor of Nairobi, and Foton Motor officials. According to.... Read more »

Posted on : Friday , 14th November 2014

Honda Motor : Unveils New Models in Kenya

Japanese car maker Honda Motors has unveiled new-generation high-end vehicles in the country in a bid to tap into the increasingly expanding new motor vehicle market. The vehicles include the new generation of Honda Accord 2014 and Honda Ballade 2014, targeted at buyers of the high and middle class. The new Accord's distinctiveness is in its look as it is longer and wider and more spacious than its predecessor. "Despite the.... Read more »

Posted on : Friday , 14th November 2014

Tullow Oil, Africa Oil receive 1 year extension in block 10BB, 13T

The Kenyan government has approved extension of the exploration license in blocks 10BB and 13T by one year following delays in acquisition of 3D seismic. Following the approval exploration periods for block 10BB and 13T will expire in July 2017 and September 2017, respectively. This year the partners in both blocks have acquired a 704 square kilometer 3D seismic program over the discoveries and prospects along the Basin.... Read more »

Posted on : Thursday , 13th November 2014

Tanzania: VP Touts Natural Gas Use to Curb Climate Change

AVAILABILITY of funds from the United Nations Green Climate Funds will help the country finance adaptation projects, including connecting most households to natural gas as source of energy. The Vice-President, Dr Mohamed Gharib Bilal, said rolling out natural gas use to households will help wean the society from fossil fuel such as firewood and charcoal dependence which contributes to greenhouse gas emissions. In a speech.... Read more »

Posted on : Wednesday , 12th November 2014

Tanzania: Over 1,000 to Access Power in Mbinga Next Year

MORE than 1,100 people in Mbinga district, Ruvuma region, will be connected with electricity next year through the Rural Energy Agency (REA), Parliament was told on Tuesday. This was said by Deputy Minister for Energy and Minerals, Charles Kitwanga, when responding to a question raised by Gaudence Kayombo (Mbinga North - CCM) who wanted to know about government plans to distribute electricity in all villages in Mbinga.... Read more »

Posted on : Wednesday , 12th November 2014

Tullow Oil cuts on offshore exploration to focus on East Africa acreage as crude oil price drop

Following the drop in global crude oil prices Tullow Oil says I will be reducing on exploration cost as well as focus on high margin oil and its major basin-opening potential. “In light of current oil and gas sector challenges including the commodity price environment, we are reviewing our capital expenditure and our cost base to ensure that Tullow is well-positioned for future success,” Tullow Oil Chief Executive.... Read more »

Posted on : Wednesday , 12th November 2014

Solo Oil provides update on acquisition of interest in Tanzania

Solo Oil plc has announced that, further to the announcement of 14 October 2014, it has been advised by Aminex PLC that the conditions precedent which are remaining to close the acquisition of an initial 6.5% of the Tanzania’s Kiliwani North Development Licence (KNDL) are the formal approval from the government. Aminex says it is also awaiting from the Tanzanian government the completion of the Deed of Assignment, also.... Read more »

Posted on : Wednesday , 12th November 2014

Multiclient Seismic Data Offshore Mozambique Now Available

Schlumberger has announced the availability of its multiclient seismic survey offshore Mozambique. The Schlumberger multiclient seismic data offered in collaboration with the National Petroleum Institute of Mozambique (INP) includes reprocessed 2D lines and newly acquired seismic data, and provides detailed imaging of the subsurface. According to the president of PetroTechnical Services at Schlumberger Maurice Nessim the.... Read more »

Posted on : Wednesday , 12th November 2014

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