Market News

 The Chinese company, Asian and African Business Management, has teamed up with a Namibian company, Whale Rock Cement, to set up a 350 million U.S. dollar cement plant.   A memorandum of understanding was signed in Windhoek Thursday between the two companies to kick start the project tha . . .

THE National Service economic wing (SUMA-JKT) and a Polish firm Ursus S.A signed a US $55 million deal for tractor supply and construction of an assembling plant. The signing held at National Service (JKT) Headquarters was witnessed by Prime Minister Mizengo Pinda and former Polish president Lech W . . .

SOUTH Korean engineering firm, POSCO, may build and help arrange financing for a graphite project in Tanzania being developed by Magnis Resources, as the Australian explorer races to start production from the east African site by 2017. Demand for graphite is expected to soar as it is a major ingred . . .

The Dar Misr housing construction project in Egypt is on the right track and that 31% of the first phase has been completed, project supervisor Mohamed Nabih has confirmed. The first phase has a total of 13,269 units in New Cairo and 5,712 units in New Damietta According to the project supervisor . . .

The tender winner of US $2 billion construction project of major highways in Zimbabwe will be known soon. Three finalists for the dualisation of Beitbridge-Harare and Harare-Chirundu highways have been submitted to the Vice President of Zimbabwe, Emmerson Mnangagwa for consideration before the final . . .