Mega steel plant launched in Dar

 The Kamal Steel Limited plant, to produce reinforced bars, flat bars, angle bars, under the continuous casting machine technology, would be the biggest in terms of capacity in East Africa. Speaking at the launch of the plant’s expansion at Changombe in Dar es Salaam, Mr Pinda said that in order to reach the targets of Vision 2025, it was important that industries were developed since one of the important sectors of the economy was construction where “steel is a very.... Read more »

Posted on : Saturday , 27th September 2014

Museveni opens biggest steel plant in East Africa

 President Yoweri Museveni has commissioned the new Ushs320b Roofing’s Group mega steel factory in Namanve, Mukono district urging locals to learn from the work methods of Ugandans of Indian origin to fast track development.   Established in 1994 by Sikander Lalani, Roofings Group is now the largest steel factory in East and Central Africa and is worth an estimated US$280m (Ushs782b).   The latest Ushs320b expansion has increased the factory’s capacity.... Read more »

Posted on : Saturday , 27th September 2014

Kenya s finance bill offers a mixed picture for oil and gas investors – Africa Oil

 According to the Canadian explorer the abolishment of the previous withholding tax regime is a positive step that will allow farm out transactions to continue in a tax effective manner.   “Such transactions are heavily relied upon by the oil and gas industry in order to attract companies with the appropriate technical and financial capabilities to projects over the course of their life cycle, thereby mitigating technical and financial risk,” reads the.... Read more »

Posted on : Saturday , 27th September 2014

ERHC enters second phase of PSC in Kenya s Block 11A

 Houston-based independent oil and gas company ERHC Energy has announced it is entering its second phase in Block 11A after completing the parties’ obligations under the first phase of the exploration program.   This follows the completion of the 2D seismic program last month which will shape up the basis for continuation of exploration under the second phase.   Under the second phase of exploration, which lasts a further two years from the end of the first.... Read more »

Posted on : Thursday , 25th September 2014

Solo Oil receives $5 million debt facility to fund Tanzanian projects

 Solo Oil Plc has announced that it has drawn down the first US$1 million of a US$5 million 3-year debt facility secured today, and has closed a Placing of £760,000 at 0.95 pence per share and a conditional Placing of £1.5 million at 0.95 pence per share which relates to a Placing and an Equity Swap Agreement with YA Global Master SPV, Ltd. (“YAGM”).   YAGM has agreed with the Company that they will not dispose of any shares acquired under their.... Read more »

Posted on : Thursday , 25th September 2014

Kenya to construct the largest convention centre in Africa at US$ 561m

Kenya has unveiled plans to construct the largest convention centre in Africa as announced by the Ministry of Tourism, in a move to capitalize on convention tourism. The center will be constructed at a cost of US$ 561m. Construction works for the project has been slotted for next year, and the funds will be made available through a public-private partnership program (PPP). The new development will be called the Bomas International Conference and Exhibition Centre. It will consist of.... Read more »

Posted on : Thursday , 25th September 2014

Africa Oilfield Logistics to build logistics hub in Kenya

 Africa Oilfield Logistics Limited has announced that it will build a logistics hub in northern Kenya The company's main subsidiary, Ardan Risk & Support Services, has entered into a 15-year lease over a plot of land to build the logistics hub, consisting of warehousing, fuel distribution and cold storage. The project will be developed into the first of several planned logistics hubs to support Ardan Risk & Support Services's technical division and its expanding.... Read more »

Posted on : Wednesday , 24th September 2014

Egypt to buy majority oil product imports from UAE

 Egyptian General Petroleum Corporation (EGPC) will buy 65 per cent of its oil product imports from the UAE’s ADNOC for a year According to a statement form the Oil Ministry of Egypt, the agreement between EGPC and ADNOC covers gasoline, diesel, heavy fuel and LPG. However, the agreement value was not disclosed. The statement also added that the deal was approved to meet the country’s urgent oil requirements, as Egypt imports petroleum products worth US$1bn to.... Read more »

Posted on : Wednesday , 24th September 2014

Mtwara Port in Tanzania set for a major upgrade

 The discovery of oil and gas in the Mtwara and Lindi regions in Tanzania is the main reason for the upgrade process Mtwara port is to undergo. The two regions have the largest share of the 43 trillion cubic feet of natural gas discovered in Tanzania.   Mtwara port manager, Musiba Fikili, said that the port management will undertake two major steps in order to deal with the rise in number of cargo the port handles annually. The management hopes that the amount of cargo.... Read more »

Posted on : Wednesday , 24th September 2014

World Bank Offers Airtel $3m To Boost Financial Inclusion In Rural Uganda

Financial Inclusion has become a major theme of the ongoing 21st century as governments and international organizations have realized its importance and its potential to boost economic development; it is with this understanding that the International Finance Corporation (IFC) of the World Bank has struck a $3.9 million advisory services agreement with Airtel Uganda. The deal is to last for three years and help Airtel Uganda in boosting its mobile money initiative in the rural.... Read more »

Posted on : Wednesday , 24th September 2014

Mtwara Port in Tanzania set for a major upgrade

 The discovery of oil and gas in the Mtwara and Lindi regions in Tanzania is the main reason for the upgrade process Mtwara port is to undergo. The two regions have the largest share of the 43 trillion cubic feet of natural gas discovered in Tanzania.   Mtwara port manager, Musiba Fikili, said that the port management will undertake two major steps in order to deal with the rise in number of cargo the port handles annually. The management hopes that the amount of cargo.... Read more »

Posted on : Wednesday , 24th September 2014

Italian firm to develop two solar plants in South Africa

 Italian energy company TerniEnergia has signed a deal with an unnamed utility firm to develop two solar plants in South Africa for US$197.3mn The two plants will have a combined installed capacity of 148.5MW, the company said in a statement. The first 82.5MW plant would be installed in Paleisheuwel, Western Cape, while the second 66MW plant would be built at Tom Burke. According to the agreement, the Italian company’s subsidiary TerniaEnergy Projects will carry out all.... Read more »

Posted on : Monday , 22nd September 2014