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Week commencing 14 August 2017
Sadolin group, the largest paint manufacturer in Uganda with more than 50% market share, will soon become Kansai Plascon following an acquisition by the Japanese firm. The Osaka-based company bought all stakes in Sadolin worth an estimated $87m.
The Guardian (Uganda) 10 August
Ethiopia and Kenya have become the first nations in the region to set up a 500kv power line. Expected to cost $1.26bn, hopes are high that the benefits of the power line, financed by the African Development Bank, will outweigh its cost over the long term. Chinese firm China Electric Power Equipment & Technology will handle all construction work. Once completed, the power line will have the transmitting capacity of 2,000MW.
Fana Broadcasting Corporation 5 August
An unnamed investor has acquired a 70% stake in Zimbabwe’s second-largest ferro-chrome producer, Zim-Alloys, for $90m. The investment will see the holding of former majority stakeholder, Farai Rwodzi, diluted. Zim-Alloys was sold to the Farai Rwodzi-led Benscore Consortium for $10m in 2005 but the business failed to take off due to the closure of four furnaces and poor global metal prices. The company is now exploring the possibility of upgrading its heavy media separation plant at Sutton Mine.
The Harald 9 August
Finnish electric generator manufacturer Wärtsilä will provide the Dakhla region’s state utility with a 22MW baseload power plant under an engineering, procurement, and construction contract concluded with the National Office of Water & Electricity. The plant is expected to be fully operational by January 2019.
Morocco World News 10 August
The Liberia Electricity Corporation has received a new storage facility at its Bushrod Island offices. The facility will store approximately 5,280,000 gallons of heavy fuel oil. The project, funded by the World Bank, is a component of the Liberia Accelerated Electricity Expansion Project, whose objective includes increasing access to electricity and strengthening the institutional capacity of Liberia’s energy sector.
Daily Observer 10 August