Market News

 Dangote Industries Limited has entered a multimillion joint venture agreement with Italy’s Saipem to establish a new company called Saipem-Dangote E&C   The new company aims to secure complex engineering and construction (E&C) projects in the Nigerian, Central and West African mar . . .

Tanzania Ports Authority (TPA) plans to increase capacity of Dar es Salaam Port for it to handle consignments from 15 million tonnes to 18 million tonnes per year with effect from next year, following a major renovation exercise.   Dar es Salaam Port Manager, Mr Hebel Mhanga told a press conf . . .

Kenya and South Sudan will be connected to a high-speed fibre optic cable within the next two years enhancing communication and inter-border trade.   The ICT Authority is implementing the Kenyan-side of the project through a World Bank fund estimated at a cost of USD 25.5 million dollars, whi . . .

ZANZIBAR government has officially approved the construction of a new sea port at Mpiga-duri coastal area starting early next year. This was announced here by President Dr Ali Mohamed Shein saying that Exim Bank of China has already allocated 200 million US dollars as part of the funds for the proje . . .

 China Railway Construction Corp Ltd., (CRCC) has signed two deals worth US$5.5bn for construction projects in Africa railwaylinenigeria-johnward CRCC’s China Civil Engineering Construction Corporation will build an intercity railway line for US$3.5bn in Nigeria’s Ogun State. The . . .