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Week commencing 9 April 2018
The International Finance Corporation is set to invest an additional $97m in National Cement to fund the company’s construction of new plants. National Cement’s chairman and major shareholder, Narendra Raval, is expected to simultaneously inject $103m in the expansion plan, estimated to cost a total of $200m. The project will involve the construction of two grinding plants in Uganda and Kenya, a clinker line and an eight-megawatt power plant in Merrueshi, Kenya.
Daily Nation 4 April
Elf Aquitaine, a wholly owned subsidiary of oil group Total, is bidding to acquire the entire share capital of Marathon Oil Libya. The proposed transaction is with the Comesa Competition Commission, an international regulatory body. The transaction will affect all 15 countries in the Common Market for Eastern and Southern Africa (Comesa) where Total has operations.
The Times Group Malawi 5 April
The National Oil Corporation has signed a deal with French building and engineering group Artelia to manage the development of its offices in the eastern city of Benghazi. The buildings will include offices for other oil companies and a branch of Libya’s central bank, as well as a hotel complex and conference centre. Although there are no details on the cost of the project, it will be funded by commercial banks. It is not yet clear when construction will commence.
Reuters 4 April
New sugar production plant for Moamba
A new $30m sugar factory owned and run by Indian company Pure Diets Mozambique will open in August in Moamba district in Maputo province. The plant is expected to feed the Mozambican and European markets. It has an area of 4,095 hectares for sugarcane production and about 1,000 hectares set aside for the plant.
Club of Mozambique 5 April
Eternity Technologies, a United Arab Emirates manufacturer of motive power, network power and block batteries for cyclic applications, has announced the appointment of African Automotive Nigeria as its exclusive distributors. The partnership with will open opportunities for solutions in the banking, telecom, traction and other standby power segments.
The Guardian Nigeria 4 April