Eurobond to Facelift Infrastructure of Tanzania
Tanzania is set to have the most reliable and efficient infrastructure networks in the East African region following concerted initiatives and efforts to find new and alternative sources of finance. Through the Big Results Now (BRN) initiative, the government last month showcased some mega infrastructure projects worth over 10 billion US dollars to large scale financial institutions for potential consorting through equity or favorable debt considerations.
Kenya to kick off construction of 960MW coal plant
The power plant will account for approximately half of Kenya’s power production measured by present installed generating capacity. It's a 1.86 billion dollar project. “We are pleased that the PPP Petition Committee has heard and determined the petition and ruled in favor of the Centum-Gulf Energy Consortium,” said Centum CEO James Mworia. “We will now work hard to recover the time lost since the award of the tender to the consortium in September 2014 and look forward to delivering affordable and cheaper power to Kenyans,” he added.
Construction of Tanzania pipeline to save $TSh.1bn
The project will furthermore help Tanzania fulfill some of the goals that are stipulated in the Tanzania Development Vision 2025. TPDC is a state-owned firm.
These include the availability of a reliable electric power supply, expansion and increase of the industrial spectrum, cleaner environment, employment creation, extended natural gas usage, availability of clean water and the use of petrochemicals in Tanzania’s industries. Acting TPDC Managing Director James Andilile said the construction work of the pipeline will be completed by the end of next month. This is contrary to earlier predictions by the Ministry of Energy and Minerals that the $1.2 billion project was to be completed by the end of 2014. Latest estimates show the pipeline will be ready by the end of February 2015.
Japan Lends Kenya Sh28 Billion for Mombasa Port Expansion
Expansion project at the port of Mombasa received a major boost after the Japanese government agreed to fund part of the second phase of the second container terminal, currently under construction. The government of Japan has extended to the Kenyan government a $270 million ODA loan, approximately Sh24.7 billion, towards the second phase of the Mombasa port development project.
