Devki opens Sh7bn roofing sheets plant
Devki Group Wednesday opened a Sh7 billion factory in Ruiru, Kiambu County that will be producing 300,000 tonnes of iron sheets every year.
The new plant, under the group’s affiliate, Maisha Mabati Mills Ltd, is the biggest in Africa.
It produces roofing sheets coated with aluminium and zinc, giving them longer life using technology borrowed from Japan, USA, Australia and India.
Industrialisation Cabinet Secretary Adan Mohamed, while inaugurating the mill, said the new venture had a capacity to more than double the country’s current annual production of 250,000 tonnes.
Ethiopia to build biggest air cargo hub in Africa
Ethiopian Airlines’ drive to become a global carrier is to be supported by the construction of a world-class cargo terminal at Addis Ababa Bole International Airport.
The $98m terminal, which will be the size of five football grounds, is to be designed by German engineer Unitechnik Group.
According to Unitechnik, the new terminal will be able to handle 600,000 tonnes of freight a year: more than four times the capacity of the existing facility, which was built by the same firm in 2006.
After that, planning will begin on a further expansion to 1.2 million tonnes a year, making the terminal one of the largest in the world.
Read more: Ethiopia to build biggest air cargo hub in Africa
WB cooperates with Chinese firm to develop low-cost houses in Africa
NAIROBI - The World Bank's private sector arm, the International Finance Corporation (IFC), on Friday inked a new partnership with Chinese construction and engineering company to develop low-cost houses in three African countries.
IFC and CITIC Construction Co., Ltd will set up a joint venture and inject 300 million U.S. dollars to develop 30,000 homes in Kenya, Rwanda and Nigeria in the next five years.
"As Sub-Saharan Africa becomes more urbanized, the private sector can help governments meet the critical demand for shelter," IFC director for Eastern and Southern Africa, Oumar Seydi told a news conference in Nairobi.
Read more: WB cooperates with Chinese firm to develop low-cost houses in Africa
Eurobond to Facelift Infrastructure of Tanzania
Tanzania is set to have the most reliable and efficient infrastructure networks in the East African region following concerted initiatives and efforts to find new and alternative sources of finance. Through the Big Results Now (BRN) initiative, the government last month showcased some mega infrastructure projects worth over 10 billion US dollars to large scale financial institutions for potential consorting through equity or favorable debt considerations.
