Business – CashExchange

Jacob Zuma is real-life comic character Phunyukabemphethe

Admin — Thu, 11 Apr 2024 12:38:38 +0000

Former South African President Jacob Zuma gestures as he attends the case of his private prosecution against South African President Cyril Ramaphosa in the Johannesburg High Court, in Johannesburg, South Africa, April 11, 2024.
Image: REUTERS/Alet Pretorius

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Review Conducted For Uganda-South Sudan Power Link

Admin — Sun, 24 Mar 2024 00:39:40 +0000

Review Conducted For Uganda-South Sudan Power Link

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US Courts Ghana Nuclear Opportunity

Admin — Sat, 23 Mar 2024 23:28:19 +0000

Representatives of the US Department of Energy, the US Nuclear Regulatory Commission and the Export-Import Bank of the United States (EXIM) travelled to Accra in Ghana recently for the first US-Africa Nuclear Energy Summit.
The three-day summit, which began on 30 October, covered topics including The Need For Nuclear Power, Nuclear Power As Catalyst for Economic Development and Local Industry Readiness For Nuclear Power.
EXIM president and chair, Reta Jo Lewis was in attendance to highlight the bank’s commitment to supporting US exporters in the nuclear energy sector looking to do business in Sub-Saharan Africa.
During the summit, she explained how EXIM financing can be a significant tool to advance nuclear energy projects, and that all of the bank’s products, including long-term financing, letters of interest, preliminary commitments and the Engineering Multiplier Programme, are available for the nuclear sector.
“Nuclear energy can play a key role in the global energy transition, and our agency is committed to building upon our strong work to support US exporters and advance critical nuclear energy projects around the world,” she said.
The US$550 billion Ghana Energy Transition and Investment Plan launched by President Nana Akufo-Addo on 21 September at the Global Africa Business Initiative event in New York envisages nuclear energy accounting for 10% of the country’s electricity production by 2060 under its net zero scenario, with 3GW of capacity installed by that date.
Ghana Energy Transition Plan
Source: GETIPGhana’s government is in the process of selecting the technology and choosing a vendor country to develop its first nuclear power plant, having put out a request for interest in 2021.
Vendors from the US, Russia, Canada and South Korea reportedly responded to the call and there is strong competition to win the contract.
US Ambassador to Ghana, Virginia Palmer told the summit, “Nuclear energy development demands committed partners. The United States is your 100-year nuclear energy partner.”
The cost of developing Ghana’s first nuclear plant has been estimated at US$1.2 billion based on a 1,000MW facility, and a contract is expected to be signed sometime in 2024-5.
Ghana News Agency reported in September that Nsuban in the Western Region has been selected as the preferred location for the plant, with Obotan in the Central Region as a backup site. Detailed technical assessments are in the process of being completed for the two sites.
In October 2022, Japan and the US signed a strategic collaboration to support the deployment of small modular reactor (SMR) technology in Ghana, beginning with a feasibility study. The proposal envisages Ghana becoming a hub for SMR technology deployment in the broader Africa region.
Other countries in Sub-Saharan Africa looking to develop nuclear power facilities include Kenya, Uganda, Tanzania and Nigeria. South Africa is currently the only nation in the region with installed nuclear capacity.
Photo: US-Africa Nuclear Energy Summit (Source: Office Of Nuclear Energy)

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Construction of World's Largest Single Train Refinery nears completion in Nigeria

Admin — Sat, 23 Mar 2024 22:21:56 +0000

The Dangote refinery site is located on a 2,635 hectares site in the Lekki Free Zone, Lagos State, Nigeria.
On completion the refinery will have the capacity to process 650,000 barrels of crude oil daily. It is expected to be Africa’s biggest oil refinery and the world’s largest single-train facility.
The refinery includes a 440 million litre water treatment tank farm and a housing estate built for 50,000 staff and their families onsite.
Engineers India is the engineering, procurement, and construction (EPC) contractor for the project. Honeywell UOP supplied catalyst regeneration and dryer regeneration control systems, column trays, heat exchanger tubes, a modular CCR unit, and catalyst coolers among other equipment.
The Hang Xiao Steel Structure company was awarded a $112m contract to provide steel structure for the refinery. Jan De Nul Group was engaged to carry out land reclamation works. Mammoet, a Dutch heavy lifting and transport company, was contracted to provide heavy lifting and transport solutions for the project.
In January (2022), Akinwumi Adesina, President of the African Development Bank (AfDB), toured the Dangote oil refinery and petrochemical plant. Back in 2014, AfDB had provided a US$300 million loan for the construction of the refinery and fertilizer manufacturing plant. The two facilities will create 38,000 jobs during the construction phase.
Speaking during Adesina’s visit to the site, Dangote said “We appreciate the support of the Nigerian government, our lenders, and development finance institutions like the African Development Bank, without whom we would not have come this far. We have enjoyed a good working relationship with the Bank and this visit further encourages us.”
Dangote further stated that “Mechanical work on the refinery is complete and hopefully before the end of third quarter we should be in the market,” and that ”The plant will start with a processing capacity of 540,000 barrels per day. Full production can start maybe, by the end of the year or beginning of 2023.”
Dangote Refinery and Petrochemical Industrial Zone employs 38,000 people: 11,000 expatriates and 27,000 Nigerians. The impact of industrialization is massive. It delivers quality jobs for the youth. Let’s do more to drive industrialization in Africa! ⁦@Macky_Sall⁩ pic.twitter.com/vxBaM5RrhY
— Akinwumi A. Adesina (@akin_adesina) January 23, 2022
The successful completion of the refinery project is expected to have a significant impact on Nigeria’s foreign exchange through import substitution and substantial savings in earnings.
The refinery will meet Nigeria’s need for refined products completely in addition to which there will be a surplus for export. Following the completion of the refinery, it is estimated that by 2023, Nigeria will import zero petroleum oil products – down from approximately $50 billion current oil product imports per year.
Adesina and Dangote discussed the potential of collaboration between the African Development Bank and Dangote Industries Limited to expand business to other African countries. Possible collaboration could include the establishment of an African industrial manufacturing corps made up of engineers and other technicians who constructed the refinery. Adesina said this would be invaluable for skills sharing across the continent.
Devakumar Edwin, Dangote Group’s Executive Director for Strategy, Capital Projects, and Portfolio Development, described the fertilizer plant as “Africa’s largest granulated urea fertilizer complex.”
He said the fertilizer facility has two production train lines, with each producing 2,200 tons of ammonia and 4,000 tons of granulated urea each day. The first train was built and deployed in the second quarter of 2021. More than 300,000 tons of urea have been produced and sold as of the fourth quarter of 2021, primarily to export markets. The second production train is expected to be commissioned in the first quarter of 2022. The plant now makes Nigeria a net exporter of fertilizer.
In August 2021, Nigeria’s Federal Executive Council (FEC) approved the acquisition of 20% minority stake in the project by state-owned Nigerian National Petroleum Corporation (NNPC) for US$2.76 billion. NNPC will also supply 300,000 barrels per day of crude oil to the refinery.
All Nigeria’s oil refineries are currently shut down, which adds further pressure on gasoline imports and costs the government a huge amount in subsidies.
The Dangote plant’s crude distillation unit will be able to process 12 crudes at a time and can specifically process the three Nigerian crude grades – Escravos, Bonny Light and Forcados. In total the plant will yield 327,000 barrels per day of gasoline, 244,000 barrels per day of diesel, 56,000 barrels per day of jet fuel, 290,000 metric tonnes / year of propane, 830,000 metric tonnes / year of polypropylene, 600,000 metric tonnes / year of slurry, 290,000 metric tonnes /year of propane and 38,000 metric tonnes / year of sulfur when fully operational.
Top Photo: Oil Refinery Plant – Stock Image (VanderWolfImages | Dreamstime)

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Rwanda's Bugesera Industrial Zone Passes 60% Occupancy

Admin — Sat, 23 Mar 2024 16:42:34 +0000

Rwanda's Bugesera Industrial Zone Passes 60% Occupancy

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Namibia Sets Its Sights On Hydrogen

Admin — Sat, 23 Mar 2024 15:22:07 +0000

The Namibian government is moving ahead rapidly with plans to establish the country as an early entrant in the hydrogen market.
Since publishing its green hydrogen strategy one year ago, construction has begun on a green iron ore project and the country’s first hydrogen refuelling station, a feasibility study has commenced for a world-scale hydrogen plant, a dedicated hydrogen investment fund has been launched and a hydrogen project implementation office established.
The Namibia Green Hydrogen and Derivatives Strategy released in November 2022 outlines ambitions for 5-7 million tonnes a year (t/y) of green hydrogen production by 2040 through US$190 billion of investment, and increasing further to 10-15 million t/y by 2050.
By 2040, it is hoped the hydrogen industry could generate US$6.1 billion in additional GDP for Namibia and create 185,000 direct jobs.
“Studies have shown that Namibia is probably one of the top four countries that have got the potential for producing hydrogen at competitive rates,” Nangula Uaandja, CEO of the Namibia Investment Promotion and Development Board told the AFSIC – Investing in Africa event in London on 9 October. “We will produce green hydrogen for export and for local consumption.”
Global demand for green hydrogen/ammonia is expected to more than triple by 2050, from about 180 million t/y currently to more than 600 million t/y, driven by the decarbonisation of the world economy.
Namibia’s excellent solar and wind energy profiles offer an opportunity to capture a share of this emerging market.
Studies suggest that the country could achieve a levelised cost of hydrogen (LCOH) production of just US$1.2-1.3 per kilogramme, placing it among the world’s lowest cost producers alongside Chile, Greece and Saudi Arabia.
Namibia Hydrogen Comparative Advantage
Source: NIPDBNamibia’s green hydrogen strategy maps out plans for developing three hydrogen valleys in the southern, central and northern regions, where hydrogen production and derivatives facilities will be concentrated with shared infrastructure to lower costs.
Namibia’s Three Hydrogen Valleys
Source: Namibia GH2 StrategyIn May, the Environmental Investment Fund of Namibia (EIF) invited consultants to submit bids to conduct feasibility studies on the three hydrogen valleys. The studies aim to identify zones within the available land with solar and onshore wind potential and establish the hydrogen and hydrogen-derivative production potential and estimated costs, while also considering the impact of having multiple green hydrogen projects in one area.
Germany’s Fichtner was awarded the contract for the central hydrogen valley. The winners of the other contracts have yet to be confirmed.
Southern Valley
The vision for the Southern Valley, which encompasses the Kharas region with its exceptional solar and wind resources, is to establish a portfolio of complementary projects and infrastructure including an enhanced deep-water port in Lüderitz and a world-scale green hydrogen/ammonia plant with wind, solar and desalination assets. These will be developed under the overarching Southern Corridor Development Initiative (SCDI).
The centrepiece of the initiative is the US$9.4 billion Hyphen project, Namibia’s first gigawatt-scale green hydrogen plant.
Hyphen Hydrogen Energy, a project development company in which the government holds a 24% stake, has signed an implementation agreement to develop and operate a large-scale, vertically integrated green hydrogen project under a 40-year concession. The other stakeholders are Germany’s Enertrag and Nicholas Holdings.
To be built on a 4,000-square-kilometre plot in the Tsau Khaeb national park, the Hyphen project will ramp up in phases, and will have an eventual capacity of 300,000 t/y of green hydrogen production by 2030, from 5-7GW of renewables generation and 3GW of electrolyser capacity.
The construction phase is expected to create 15,000 jobs, with 3,000 permanent jobs during its operation. The target is for around 90% of these jobs to be filled by Namibians, along with 30% local procurement for goods, services and materials throughout both the construction and operational phases.
In late October, the Development Bank of Southern Africa agreed to provide a project preparation facility to support the partial funding of the engineering, environmental and socio-economic development studies for the project. Germany’s ILF Consulting Engineers (ILF) was appointed in August to provide project management services and technical expertise for the project.
“Hopefully, we will see ourselves by 2027 producing green hydrogen. For the next 12-24 months, we will be doing a feasibility study,” Uaandja told the conference.
Hyphen is targeting annual production of 1 million tonnes of green ammonia by 2027, with plans to double this by 2029. It has already signed non-binding offtake agreements with German and South Korean industrial companies to derisk the project.

The strategy document states that the Hyphen project “will catalyse the rapid scale-up of green hydrogen production in the corridor. It will then be expanded to create a thriving cluster of ammonia (and later HBI [hot briquetted iron] and/or synfuel) production sites.”
The plan is for production in the Southern Valley to reach 5 million t/y of hydrogen equivalent by 2050, using the common-use infrastructure backbone established for the Hyphen project.
Hyphen has been working with Namibian Ports Authority (NamPort) and the Port Of Rotterdam on the development of the Lüderitz port masterplan. This will see the development of an industrial port complex at Lüderitz and common-user hydrogen infrastructure to support the SCDI.
It is understood the first phase of works, due to commence in the final quarter of 2024, involves the expansion of existing port facilities to enable the import of construction materials for the Hyphen project. The second phase will see the development of new deep-water port facilities to support annual exports of 2 million tonnes of green ammonia by 2028, with further capacity increases thereafter.
Central Valley
The plan for developing the Central Valley, which encompasses the Erongo, Khomas and Otjozondjupa regions and includes Walvis Bay Port and the capital Windhoek, entails launching several early demonstration projects and investing in infrastructure with the aim of creating a hub for the production of synthetic fuels.
The strategy document notes that the wind power potential in this valley is limited and therefore hydrogen production will only be able to reach scale after 2035, when the costs for solar and electrolyser production are expected to be lower. It estimates that by 2050, hydrogen production in the valley could be 3 million t/y.
Four pilot hydrogen-related projects were selected last year for development in the Erongo region. They are making good progress thanks to financial support provided by Germany.
In late September, Cleanergy Solutions Namibia began construction of a hydrogen refuelling station with onsite green hydrogen production in Walvis Bay. Cleanergy Solutions Namibia is a joint venture of the local Ohlthaver & List (O&L) Group and Belgium’s CMB.TECH.
The project entails the development of a 10-hectare solar park and a hydrogen production facility equipped with a 5MW electrolyser and a 5MWh battery energy storage system.
A hydrogen academy will also be established as part of the pilot project to train locals on hydrogen technology and its applications, along with a workshop to convert trucks to dual-fuel technology.
Cleanergy Solutions Namibia has also signed a letter of intent with Australia’s Fortescue for the construction of a pilot green ammonia plant next to the hydrogen production facility.
Hydrogen Refuelling Station
Source: Cleanergy Solutions NamibiaThe refuelling station is expected to be fully operational by mid-2024, producing 200 tonnes of hydrogen a day. It will supply hydrogen for long-haul trucks and heavy industrial applications such as locomotives and mining and port equipment.
“There is a reason why we start with a small plant like this,” Cleanergy Solutions Namibia CEO, Eike Krafft says in an interview filmed for the EU-Namibia Business Forum held in October. “First of all, we need to test some technologies and build relationships. The second reason is we really want to support the development of a local hydrogen offtake economy and we think it is important to have something on the ground quickly. We are using this first phase to facilitate and support research and upskilling in hydrogen-related technologies.”
In tandem with the construction of the refuelling station, TransNamib is working on a pilot project to retrofit two diesel locomotives with dual-fuel engines and convert tankers to transport green hydrogen, while NamPort is working to enable its port equipment to operate using dual-fuel technology.
The fourth pilot is an agriculture-focused project. Green houses for plant nurseries and production houses are currently under construction at the experimental Daures Green Hydrogen Village, which is due to be commissioned in June 2024. Green ammonia production for agricultural use is planned to reach up to 700,000 tonnes by 2028.
The longer-term aim for the Central Valley is to turn Walvis Bay Port into a green ammonia bunkering hub to refuel ships passing the Cape of Good Hope. This will require the development of storage and processing facilities at the port, and large-scale ammonia production facilities in the valley. Some 300 hectares have been set aside at the port for the development of green hydrogen-related infrastructure.
As part of a €1 billion critical minerals and hydrogen partnership with Namibia, the European Union has agreed to support a study for transforming Walvis Bay Port into a green hydrogen and logistics hub. Belgium’s Port of Antwerp and Bruges International will develop a masterplan covering multimodal infrastructure, spatial planning and market organisation.
The Erongo region has become a hive of activity for hydrogen-related projects of late. On 6 November, a groundbreaking ceremony was held for the Oshivela green iron project.
The €30 million plant is being built near the Valencia mine, close to Arandis, by HyIron, a Namibian-German joint venture. It will use green hydrogen instead of coal for the reduction of iron ore.
The plant will have a capacity of 15,000 t/y of direct reduced iron in its first phase, with production set to commence by the end of 2024. A feasibility study is being conducted to evaluate a mid-term capacity expansion to 1 million t/y.
The Oshivela facility will be powered by solar and wind energy, with 20MW of photovoltaic solar in the first phase, and an additional 18MW of wind energy and 140MW of solar in the subsequent scaled-up production stage.
Also in the Erongo region, France’s HDF Energy is planning to develop a US$240 million green hydrogen to power project at Swakopmund.
The firm has secured 400 hectares of land and is hoping to reach a final investment decision next year. According to the environmental impact assessment, key elements of the project include an 85MW solar array, 24MW of electrolysers, a 90MWh battery energy storage system, a reverse osmosis desalination plant with a capacity of 600 cubic metres a day and a 6km bulk water pipeline.
Other plans being considered for the Central Valley include the development of bush-fed biomass plants to supply carbon dioxide for methanol and synthetic kerosene production as well as the creation of a special economic zone.
Northern Valley
While the northern region of Kunene has strong renewable energy resources, it currently lacks infrastructure to support the development of a hydrogen hub. According to the strategy document, a new deep-sea port will have to be built in the Northern Valley. It states that development of the region will begin in the mid-to-latter part of the decade once appropriate partners have been identified. The ultimate goal is to establish a green fuels hub and/or a green hydrogen-based hot briquetted iron hub, with the potential for 5 million t/y of hydrogen equivalent production by 2050.
The strategy document estimates that developing Namibia’s green energy industry will require US$190 billion in investment up to 2040. This includes US$95 billion for upstream production facilities and infrastructure such as renewable energy systems, electrolysers, storage and pipelines, and about US$30 billion for midstream assets including ports, derivative plants and trucks.
To facilitate this investment, in June, the government announced the launch of the €1 billion SDG Namibia One fund in partnership with Climate Fund Managers and Invest International of the Netherlands. The fund will seek to mobilise concessionary and commercial capital from investors specifically to support the SCDI.
Invest International provided €40 million in initial grant funding to seed the fund. The European Investment Bank and the Namibian government inked a letter of intent at COP27 in November 2022 to raise €500 million, a portion of which was designated for investment via SDG Namibia One.
The blended finance fund will provide capital for the three different project phases: development, construction and operations, with each having a different risk-return profile.
“When you are able to put structured processes in place in emerging markets, the investment thesis improves significantly, so supporting the Namibian government to put structures in place to enable projects will crowd in investment from other sectors that would otherwise take a wait-and-see approach,” Darren Johnson, head of Africa, Climate Fund Managers tells ConstructAfrica.
Valley Development To 2050
Source: Namibia GH2 StrategyEconomic impact
The strategy document estimates that the development of an at-scale hydrogen industry could lift Namibia’s GDP by 32% by 2040 and create 600,000 new direct and indirect jobs. It also sees an opportunity for the local manufacturing of renewables technologies such as wind towers and blades and solar cells and modules.
To help localise the renewables and hydrogen value chains, the government plans to support research and development initiatives through the Namibia Green Hydrogen Research Institute and to establish training centres and degree programmes to develop a skilled local workforce. Self-contained mini-campuses are planned for Lüderitz, Windhoek and Walvis Bay.
The strategy document ends with an action plan to be completed by March 2025. One of the main tasks is to establish an Implementation Authority Office to plan and procure hydrogen projects on state-owned land. In August, the Ministry of Mines and Energy announced the opening of the office, with presidential advisor James Mnyupe appointed as green hydrogen commissioner for five years.
Hydrogen diplomacy
To realise its hydrogen ambitions, Namibia has been engaging in hydrogen diplomacy over the past couple of years, forming strategic government-level partnerships and showcasing its plans to potential investors, project developers and offtakers.
Germany has emerged as a key collaborator, signing an official hydrogen partnership in 2021 and providing a €40 million stimulus package to develop the sector. As well as backing the four pilot projects in the Central Valley, Germany’s Federal Research Ministry is financing hydrogen-related scholarships and the development of a national synthetic fuels strategy. Meanwhile, German firms are the driving force behind the Hyphen project in the Southern Valley and the Oshivela green iron scheme.
With much of the future construction activity set to take place around the small port city of Lüderitz, which has just 12,000 residents, the German Federal Ministry for Economic Cooperation and Development (BMZ) in June agreed to provide €6 million to support urban planning in the vicinity of the proposed hydrogen project to ensure the influx of workers does not lead to uncontrolled urban sprawl.
Private investors are also planned to be engaged to speed up the construction of apartments, schools, roads and public facilities, and support will be provided to ensure the training of renewable energy specialists.
Development Minister Svenja Schulze said at the time of the announcement, “Namibia has huge potential for renewable energies and has recognised that it can write a success story in expanding green hydrogen production. We will support Namibia in this. Sustainable urban planning in the vicinity of the future facilities is an important part of our cooperation. Above all, sustainable means involving the local population in the planning. They have to be able to have a say, because it’s about shaping their country.”
Berlin’s keen interest in ensuring that Namibia succeeds in harnessing its competitive advantage in renewables to become a global player in hydrogen is understandable. Germany is expected to become the biggest market for hydrogen in Europe in the race to reach net zero.
Federal Research Minister Anja Karliczek said at the signing of the 2021 partnership agreement, “We need large amounts of hydrogen and we need it quickly and at low cost. Namibia can provide both.”
Photo: Hydrogen infrastructure (© Audioundwerbung Dreamstime)

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Kenya: UK Firm Atkins appointed to Design Nairobi Railway City

Admin — Sat, 23 Mar 2024 14:11:20 +0000

The iconic Nairobi Railway City is a multi-modal urban development project intended to expand and decongest Nairobi’s Central Business District. The project is being undertaken as a joint venture between Railway City Development Authority, Kenya Railways, and the Nairobi Metropolitan Services.
The mega project will include a world-class new central station for Nairobi, incorporating mixed-use commercial developments, hotels and intermodal transport facilities.
Atkins will design the new Nairobi Central Train Station and associated public grounds and infrastructure, which will define the masterplan for the Nairobi Railway City.
Atkins will collaborate with its Nairobi-based consulting engineering subsidiary, Howard Humphreys East Africa, to design the new train station. Atkins acquired Howard Humphreys in March 2016 as part of a strategy aimed at making Nairobi its African hub for property, energy and infrastructure deals.
The Nairobi Railway City development will be located on 425 acres of land spanning across Haile Selassie Avenue, Uhuru Highway, Bunyala Road, Commercial Street and Landhies Road in Nairobi. 292 acres of the proposed development area currently serves as the Nairobi Railway Station and is owned by Kenya Railways.
According to the Kenya Railways website, the strategic location of the Nairobi Central Railway Station area positions it perfectly to be an iconic nerve centre for the Nairobi Multimodal Transport System.
The new Nairobi Central Station will have eight platforms with modern shades and a glass-built waiting bay, and will occupy an expanded landmass. It will also have a marketplace, local heritage sites, a shaded sitting area, and a Bus Rapid Transport (BRT) section. There will also be substantial tree cover.
Artist’s impression of the new Nairobi Railway Station being designed by Atkins (@JaneMarriottUK Twitter Handle)The preliminary designs for Nairobi Railway City have been submitted by Atkins, and were unveiled to the public in January 2022 at a function attended by UK Minister for Africa Vicky Ford, who was on a three-day tour of East Africa. Kenyans will be expected to give their views on the project over a period of sixty days from the release of the preliminary design to the public, before the plans are finalised.
The project will be implemented in three phases over a period of 20 years, with the first phase due for development between 2021 and 2030. The first phase includes the Central Railway Station and a commercial complex with two towers of 5,000 square metres each.
The second phase includes an economic zone which will have hi-tech industries and small and medium enterprises. The third phase, the East core, will include a residential complex with a school, park and housing units.
The total cost of the Nairobi Railway City project has been estimated to be US$246.6 million. Railway infrastructure and water supply infrastructure constitute a significant proportion of the costs at US$154.1 million and US$34.3 million respectively.
The managing director of Kenya Railways, Philip Mainga, is reported to have told Reuters that the initial phase of the project will cost 1.35 billion Kenyan shillings, excluding consultancy fees which will be paid by the British government.
This project forms part of the new Post-Brexit partnership between the United Kingdom and Kenya. The UK will play a key role in helping Kenya develop infrastructure projects and will provide investment as well. This was discussed at the Kenya – UK Partnership forum held in Nairobi in January 2022.
More details on ?? support for ? Nairobi Railway City ? https://t.co/lSfw3CBmST
— UK in Kenya ???? (@UKinKenya) January 20, 2022
Speaking during her visit to Kenya, UK Minister for Africa, Vicky Ford, said that “Our economic partnership is delivering impressive results, and we have some ambitious, exciting, plans for the future. Plans that will deliver for Kenya, and for the UK, long into our shared future.”
“We will continue to build on this economic partnership by focusing on infrastructure through the Build Back Better World initiative. Launched by G7 leaders in the UK last summer, this initiative will provide honest, responsible, and sustainable finance to meet infrastructure development needs around the world,” Vicky Ford added.
According to James Woodward, a director at KPMG, the global consulting firm is reported to be leading a drive for investors into the segments of the project with commercial viability, including office towers, residential homes and multi-storey car parks.
The completed economic free zone will create 200,000 employment opportunities and about 28,000 residents will be accommodated in the residential complex.
Atkins has designed major infrastructure projects around the world such as the Dubai Opera House, a 2,000-seat, multi-format theatre. Atkin’s impressive portfolio of projects also includes Dubai’s Burj Al Arab, a 56-storey super-luxury hotel situated on a man-made island.
Howard Humphreys, which is partnering with Atkins to deliver the project, also has a portfolio of iconic projects it has handled in Nairobi. The projects include a terminal at Jomo Kenyatta International Airport (JKIA) as well as the Two Rivers Mall among others.
Top Photo: Nairobi Terminus, a railway station on the Mombasa–Nairobi Standard Gauge Railway (Macabe5387 | Wikimedia Commons)

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Burkina Faso Inks US$14.8 Million Of Distribution Contracts

Admin — Sat, 23 Mar 2024 08:57:07 +0000

Burkina Faso Inks US$14.8 Million Of Distribution Contracts

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MIGA Increases Guarantees For Tulu Moye IPP

Admin — Sat, 23 Mar 2024 07:53:42 +0000

The Multilateral Investment Guarantee Agency (MIGA) of the World Bank has increased the guarantees issued to Tulu Moye SAS of France covering its equity and quasi-equity investments in Ethiopia’s Tulu Moye Geothermal Operations (TMGO).
TMGO, which is fully owned by Tulu Moye SAS, is developing a geothermal independent power plant near the Tule Moye volcano in Oromia, 100km southeast of Addis Ababa.
Tulu Moye SAS is 65% owned by Meridiam and 35% by Reykjavik Geothermal.
The original guarantees of US$67.5 million were issued in 2021 for up to 15 years against the risks of breach of contract, expropriation and war and civil disturbance. These have now been increased to US$117 million.
The project entails the design, development, construction, operation and maintenance of the first 50MW phase of a planned 150MW greenfield geothermal power plant.
The power generated in phase one will be sold to state-owned utility Ethiopian Electric Power under a 25-year power purchase agreement, signed in December 2017. Commercial operation is due by the end of 2023.
The second phase involves the development of 100MW over the next five years. The MIGA guarantees only cover phase one.
In March 2022, TMGO awarded a US$100 million engineering, procurement and construction contract to Japan’s Mitsubishi and SEPCO Electric Power Corporation to build the 50MW first phase of capacity.
For this project, MIGA also used the IDA Private Sector Window MIGA Guarantee Facility, which provides a shared first loss layer of up to US$41 million.
Photo: Tulu Moye drilling site (Source: TMGO Twitter/X @EthiopiaTmgo)

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New US$121m Tanzanite Bridge operational in Dar es Salaam, Tanzania

Admin — Sat, 23 Mar 2024 06:47:15 +0000

The new Tanzanite bridge links Aga Khan Hospital and Coko Beach in Tanzania’s capital city, Dar es Salaam. The bridge was completed and open to the public on February 1 2022.
The bridge structure has a load capacity of 180 tonnes, and is expected to carry 55,000 vehicles per day and reduce traffic congestion along the old Selander Bridge and along the Ali Hassan Mwinyi Road.
Construction works at the Tanzanite Bridge Site (@TanzaniaUpdates Twitter Handle)The Tanzanite bridge has a unique design which combines the characteristics of a girder bridge and a cable-stayed bridge. This design makes the bridge structure lighter. According to the contractor constructing the bridge, the design also enhances the construction and economic feasibility of the structure.
Construction works on the bridge commenced in 2018. Tanzanian President, Samia Suluhu Hassan, paid an inspection visit to the project in November 2021 at which time the bridge was reported to be 98.4% complete.
Tanzanian President Samia Suluhu Hassan inspecting the Tanzanite Bridge project (Courtesy, seetao.com)Construction of the bridge was completed in January 2022, and the bridge became operational on the 1st of February 2022.
Completed Tanzanite Bridge Structure (@Mastermark45 Twitter Handle)The bridge project was jointly funded by the government of the Republic of Tanzania and the government of South Korea. South Korea’s Economic Development Cooperation Fund (EDCF) provided a sum of US$107 million for construction of the Tanzanite bridge, which is reported to be 82.9% of the entire cost.
The ECDF is a Korean Government fund established in 1987 to support the industrialization and economic growth of developing countries. The fund is operated and managed by the Export-Import Bank of Korea.
“The project was EDCF’s largest construction project in Africa and Tanzania’s presidential pledge project. GS E&C successfully completed this construction project within the fixed contract period, which has increased our reliability,” a GS E&C official said. “It will greatly help us have more business opportunities in Africa in the future.”
Top Photo: New Selandar Bridge (Tanzanite Bridge) constructed by GS E & C (Courtesy, koreaherald.com)

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