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Week commencing 12 February 2018
Turner & Townsend’s Kenyan business is set to merge with Nairobi-based project management firm Mentor Management. The global professional services firm acquired a majority stake in Mentor Management from growth markets investor Actis. The transaction is subject to regulatory approval. The new entity, MML Turner & Townsend, will operate across the real estate, infrastructure and natural resource industries. The merger will see MML Turner & Townsend become the largest independent project and programme management company in East Africa.
Business Today 8 February
Midway Resources International (MRI) has been awarded a deal for the construction of a gas-fired power plant in Lamu. MRI’s local subsidiary, Zarara Oil & Gas, has appointed a consortium of American and Kenyan consultants to conduct a feasibility study to evaluate the project’s technical, financial and environmental aspects. The plant, which is expected to produce between 50MW and 200MW of electricity in its first phase, could be scaled up to 1,200MW if more gas resources are discovered.
Daily Nation 7 February
Spanish multinational firm Gestamp, which specialises in the design, development and manufacture of technical metal components for the automotive industry, will be setting up its first plant in Morocco, and the first of its kind in Africa. The plant will be a joint venture with Moroccan vehicle equipment supplier, Tuyauto. The factory will be built in the Kenitra Atlantic Free Zone and is expected to create 120 jobs for locals.
Morocco World News 8 February
Al Khaleej Sugar Refinery has agreed to build an agro-industrial complex to produce beet sugar under a deal signed with the Egyptian government. The mill, named Al Canal Sugar, is expected have a beet sugar production capacity of 750,000 tonnes during the beet season from February until June, with potential to go up to 900,000 tonnes. It will start production in mid-2020 with full capacity reached in February 2021.
Ahram Online 4 February
US energy firm General Electric and Italy’s oil and gas contractor Saipem will be constructing the proposed Hoima district oil refinery after the two companies were cleared for the $4bn tender. The decision by cabinet was based on recommendations of Uganda National Oil executives and the need to balance foreign interests in the country’s oil sector. General Electric and Saipem have partnered with Intra-Continental Asset Holdings, a Mauritius-based private equity fund, and Washington investment firm Yaatra Ventures, for funding.
Uganda Business News 8 February