Meru County Looking for Sh1.6 Billion to Build an 18-Storey Tower
Meru County Investment and Development Corporation (MCIDC) is seeking to raise Sh1.6 billion to build an 18 storey multi-use commercial building in the town.
The building, dubbed Meru Rising Tower, is projected to cost Sh2.5 billion if financed with 30 per cent debt.
The building, which will sit on a one-acre plot ainAngaine Estate, will comprise three floors for retail services, 15 floors of office space and a mezzanine floor for meeting rooms, each with a capacity of up to 250 people.
construction of major highway at Kenya’s Coastline to Start
Kenya National Highways Authority (KeNHA) has confirmed that the construction of a major highway at Kenya’s Coast is set to begin later this year. The Garsen-Witu-Lamu road in Kenya is expected to boost business and economic growth in the area once complete.
KeNHA made an official announcement stating that the paving of the road will begin following the advertisement of the tender in the daily newspapers. The successful contractor will be expected to sign a fixed price contract with the road agency so as to ensure that detailed designs and construction works are being provided.
Tullow gets boost in Maersk Oil Kenya deal
Africa Oil Corporation, the partner of Tullow Oil Plc in Kenya has received Sh43.6 billion ($427 million) from Maersk Oil & Gas of Denmark in exchange for half of its stake in three exploration blocks located in the Lokichar basin.
The deal brings in Maersk as a partner in blocks 10BB, 13T and 10BA where it will own 25 per cent interest, scaling down Africa Oil’s stake to 25 per cent while Tullow retains a 50 per cent interest in the blocks.
The farm-out arrangement was approved by Kenyan authorities last month but both companies had not reached a financial settlement.
Mutli-million dollar Tatu City in Kenya appoints American firm to outline for power supply
A multi-million satellite complex Tatu City in Kenya , has announced that it had appointed US-based firm Power Engineers Inc to plan on power infrastructure for use within the industrial complex.
Power Engineers is one of the largest consulting engineering firms in the United States
Tatu City in Kenya management said that The Power Engineers Inc is well suited for the job having worked with clients such as the World Bank, US Trade and Development Agency and Inter-American Development Bank.
