Market News

 Construction of a multimillion coal power plant in Lamu, Kenya is set to commence in October this year, Amu Power Company has confirmed.   Amu Power, a company formed by a consortium of Centum and Gulf Energy, expressed their gratitude to the Kenyan Government for awarding them the tend . . .

    Kenya requires approximately US$ 2.2billion to fill infrastructural development financing deficits, Johannes Zutt, World Bank Country Director for Kenya has said.   The country spends about US$ 1.6 billion a year as opposed to US$ 4billion sustainable expenditure required over . . .

 The Sharm El-Sheikh International airport has received US$140 million from the African Development Bank (AFDB) to facilitate its expansion project.   The expansion involves constructing a new terminal (terminal 3) and a runway in order to increase the passengers handling capacity by 10 . . .

 Egyptian president Abdel Fattah el-Sisi and his Russian counterpart Vladimir Putin have agreed to corporate to build a nuclear power plant in Egypt.   The partnership deal was signed during an official visit by President Vladimir Putin to Egypt.   The move for a nuclear power pla . . .

 Egypt’s property group SODIC has announced on Monday this week that it will invest US$301.64 million in 2015. CEO of SODIC Ahmed Badrawi has said the company is set to build 684 new property units in 2015. The company had announced last year that construction of first phase of its develo . . .