Egyptian construction firm Arab Contractors to begin operation in Kenya
An Egyptian Construction firm Arab Contractors Company is set to enter into the Kenyan construction market and commence operations in the fields of roads, bridges, and other general infrastructure opportunities.
This decision was decided upon after the two countries, Kenya and Egypt met and discussed on the possibilities of being effective in the road construction field.
“The current area of cooperation with the Kenyan side is in road construction, which will be financed by the Islamic Bank of Kenya. This will be the entry point for the Arab Contractors Company here. Besides, there will be a study to determine how to ease the traffic problem to and from the main airport in Nairobi,” said Ibrahim Mabrouk, head of the company in Africa.
Sh1.2 Billion Lighting Project Boosts Business in Mombasa
The Mombasa County government and Kenya Power have finished lighting up the town at a cost of Sh1.2 billion in an effort to woo investors and revitalise tourism industry through the Mwangaza Mtaani project.
Started in September last year, the street lighting programme, involved upgrading of the electricity network in the coastal town and installation of high mast lights in major streets including public beaches.
During the just concluded festive season, visitors to the town were allowed to stay on at the Kenyatta public beach for the first time even after dusk and in the process extending business hours.
Project to ease Mombasa-Nairobi highway traffic congestion underway
Traffic snarl ups along the Mombasa - Nairobi highway are expected to ease following drastic measures to address gridlocks like those experienced during the recent rains.
Speaking during an inspection tour of the Maji ya chumvi – Bachuma Gate road project, KeNHA special projects Manager Engineer Kefa Seda said that the recent gridlock will not be experienced again due to the mitigation measures taken.
“Previously the deviation that was there was 7km long 8.5m wide but right now as we speak it has been reduced to 2 km to ease traffic congestion, we also have traffic being monitored every 45 minutes so we expect all to be well going forward,” said Engineer Seda.
Foreign investor to inject Sh12.8b into ARM
Kenya’s second largest cement maker ARM Cement Ltd is eyeing a US$125 million (Sh12.8 billion) investment from an international institutional investor should the ongoing negotiations succeed.
ARM, the makers of Rhino Cement, said details of the deal, under which a foreign investor is expected to make multi-billion equity investment in the NSE-listed cement company, will be made available to the shareholders and the public soon.
“ARM Cement is currently in discussions with an international investor who intends to make an investment of up to $125 million equity investment in the company through convertible preference shares,” said the company in a statement.
