Housing units worth USD 550m for Tanzania's defense forces to be constructed

Tanzania government has signed a US$ 550m concessional loan agreement with the Chinese Government for construction of 12,000 new housing units for the country’s military. The houses are going to be constructed at various towns and cities in Tanzania. Construction works for the housing project are going to be carried out in two phases, where 6,600 units will be constructed during the initial phase. These units are to be built by 2016 at a cost of US$ 300m. Each of the phases in.... Read more »

Posted on : Tuesday , 30th September 2014

AfDB loans Burundi US$29.49m for road improvement and asphalting project

The African Development Bank (AfDB) has approved a grant of US$29.49 m to Burundi to carry on with the Phase 1 of the Nyakararo-Mwaro-Gitega Road Improvement and Asphalting Project. This report was issued on Friday last week. Infrastructure improvement works pertains to a 30-kilometre-long Nyakararo-Mwaro-Kibumbu road, an undertaking that will see the country benefit from regional trade. The new Nyakararo-Mwaro-Gitega Road Improvement and Asphalting Project is also set to open access.... Read more »

Posted on : Tuesday , 30th September 2014

Angola s liquefied natural gas plant to be reconstructed

 Angola’s liquefied natural gas plant faces a long closure for reconstruction to fix design flaws and corrosion in the new plant. This renovation will result to an addition USD I.07bn to the cost of the whole project.   Some of the investors in the 300km project at the natural gas plant situated in at the Atlantic Coast North of Luanda include Chevron, who is the biggest shareholder; Angolan State Energy Firm, Sonangol; Total; BP; and Eni. These investors contacted.... Read more »

Posted on : Tuesday , 30th September 2014

Pace of Oil & Gas Exploration in Sub-Saharan Africa Ignites the Market for Automation and Control Solutions

 Capital spending on automation and control systems (ACS) within the sub-Saharan oil and gas industry is set to increase exponentially. The rising focus on process optimisation, discovery of new reserves, and expansion of the regional infrastructure is anticipated to generate fresh opportunities for equipment suppliers.   New analysis from Frost & Sullivan, Automation and Control Solutions in Sub-Saharan Africa's Oil and Gas Industry—An Analysis of 3 Leading.... Read more »

Posted on : Tuesday , 30th September 2014

Tanzania eyes industrialised economy to increase development

 The model of the economy envisioned by the National Development Vision will be led by modernised and highly productive agricultural activities which are effectively integrated and supported by industrial and service activities in the rural and urban areas. The Vision 2025 aims at achieving a high quality livelihood for Tanzanians people, attain good governance through the rule of law and develop a strong and competitive economy. “Tanzania will then be a country.... Read more »

Posted on : Monday , 29th September 2014

Italy to East Africa: We are here to invest and help expand industries

 Italy rarely, if ever, features on the list of countries with a big presence in the East African region. Not anymore. Italy’s Minister of Economy and Finance was in Kigali and spoke to The EastAfrican’s BERNA NAMATA on the renewed interest in the region. There is growing interest from Italy — we recently launched the Italy-African initiative to intensify ties and facilitate economic integration between the Italian economy and African.... Read more »

Posted on : Monday , 29th September 2014

EAST AFRICA : Meet the market movers

 The rapid growth of East Africa's 150-million strong population has seen housing stocks come under pressure, prompting construction firms to embark on ambitious projects in a bid to close the deficit.    With GDP up by an average of 5% across the region in 2012, commercial and residential construction is pushing up sales of East Africa's steel products, which range from rebar and wire rod to cold rolled coil, galvanized sheet and pipes.    Locally sourced.... Read more »

Posted on : Monday , 29th September 2014

Australian firm expands foothold in Tanzania

 Significantly, all of the tenements are located within 20 kilometres of the coast, are easily accessible by road, and accessible to port facilities. The acquisition will supplement Gunson’s construction ready Coburn Mineral Sands Project in Western Australia. Adding to the transformation changes, Gunson will gain former managing director of mineral sands behemoth Iluka Resources Mike Folwell as its new chairman to guide the exploration and growth plan. Senior management.... Read more »

Posted on : Monday , 29th September 2014

British Firm Wins Africa Oil's Seismic Survey Tender

 A UK registered company, IMC Geophysics Limited, has won the tender put up by Africa Oil to hire a company that will conduct seismic survey in the Ethiopian rift valley near Arba Minch town.   The Canadian oil company, Africa Oil, is under preparation to collect seismic data from the new oil exploration block in southern Ethiopia, around Arba Minch.   Africa Oil acquired the new oil exploration block (Rift Basin block) in southern Ethiopia in February 2013 from the.... Read more »

Posted on : Monday , 29th September 2014

Dana Gas Successful in Bids for 2 Onshore Concessions in Nile Delta

 Dana Gas, the Middle East’s leading regional private sector natural gas company, revealed Monday that its wholly owned subsidiary, Dana Gas Egypt, has been awarded the North El Salhiya (Block 1) and El Matariya (Block 3) onshore Concessions in the Nile Delta as part of the 2014 EGAS bidding round held recently in Egypt.   The Company will operate the Block 1 Concession Area on a 100 percent basis. It is expected that exploration success and future production from.... Read more »

Posted on : Monday , 29th September 2014

Zimbabwe: Green Fuel Unveils 85 Percent Ethanol Flex Kits

      Green Fuel has introduced a new flexi fuel upgrade kit that allows motor vehicles to use various levels of blended fuel up to 85 percent of ethanol.Green Fuel is the country's sole ethanol-producing company and is a joint venture project between Macdom Investment and Government.   The new flex fuel upgrade kits give fuel injectors more range to adjust to the fuel being used at a particular moment. Speaking after a tour of the new flexi-fuel fitment.... Read more »

Posted on : Monday , 29th September 2014

Nigeria to construct a new $400m, 260MW power plant

The Nigeria Minister for Power, Mohammed Wakil, has signed an agreement that will see construction of a new 260MW power plant in Ewekoro, Ogun state. The Minister has described the event as a milestone, and which underscores the need to fast track the nation’s ongoing privatization exercise described as the biggest in the world.   The new 260MW power plant deal brings on board the International Fi­nance Corporation (IFC) – a subsidiary of World Bank as the.... Read more »

Posted on : Monday , 29th September 2014