Otto Marine Limited a leading offshore chartering group, which owns and operates more than 60 offshore support vessels globally, and also engaged in specialized shipbuilding, repair and conversion of offshore support vessels has announced that its shipyard division has sold an Anchor Handling Tug Supply Vessel to a renowned unrelated third party (the “Buyer”) for US$100 million.
Posted on : Friday , 2nd January 2015
Seadrill Limited has announced it has exercised a purchase option for the West Polaris, a 6th generation Ultra-Deepwater drillship, from Ship Finance International Limited.
Posted on : Friday , 2nd January 2015
This will be promoted within the business community in the EAC Partner States and is expected to guide the private sector in provision and acquisition of services across the region, Andrew Luzze, the Executive Director East African Business Council, has said.
Posted on : Friday , 2nd January 2015
The growth, which was mostly driven by a boom in finance, insurance and real estate, accounted for 44% of actual investments, the Uganda Investment Authority (UIA) has said.
Posted on : Friday , 2nd January 2015
The Tanzanian government has begun the compensation process for about 1,000 local residents who will need to be relocated, and construction will begin soon, Abdallah Kigoda, the Tanzanian minister for industry and trade, said at a news conference in Dar es Salaam last month, according to Xinhua, the Chinese state news agency.
Posted on : Friday , 2nd January 2015
The centre – one of the latest moves by the Government to make Kenya investor-friendly – will bring Government ministries and agencies involved in investment facilitation under one roof.
“Our intention is to second senior officers to the Centre with sufficient authority to make decisions. I have directed the Ministry of East African Affairs and other Ministries involved to hasten this process,” he said.
The President spoke today w.... Read more »
Posted on : Friday , 2nd January 2015
The Governments of Tanzania, Zambia and Kenya have signed a Memorandum of Understanding (MoU) to fund a USD 1.2 billion power inter-connector project that will connect the Eastern African Power Pool (EAPP) to the Southern African Power Pool (SAPP).
tanzania-kenya-zambia-power-gridThe Zambia-Kenya-Tanzania (ZTK) power interconnector project is scheduled to be launched at the end of 2015 or in early 2016 and is expected to be completed by December 2018.
A.... Read more »
Posted on : Wednesday , 31st December 2014
African EPZ factory commenced operations last week. Located in Mtwapa, Kilifi County, the new factory will manufacture garments for the international market.
Posted on : Wednesday , 31st December 2014
The ranch covering 1.78 million acres is located between Rivers Galana and Tana, which have adequate flow to supply water for irrigation.
Posted on : Wednesday , 31st December 2014
According to the statement, this was one of the resolutions agreed on during a recent meeting between EAC ambassadors in the Russian Federation and representatives of the EEC that took place at the Kenyan Embassy in Moscow, Russia.
Posted on : Wednesday , 31st December 2014
Western Corporation limited signs up as a Platinum Sponsor at the 4th Oil & Gas Africa 2015 which will take place from the 27th – 29th April 2015,
Posted on : Wednesday , 31st December 2014
A law adopted by Mozambique this week to provide long-term fiscal and legal stability for gas projects off its northern coast will be a benchmark for such agreements in other countries, said the International Monetary Fund.
Posted on : Tuesday , 30th December 2014
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