US$ 10.8m agreement signed for renewable energy projects in Kenya
Chase Bank and the French Development Agency have signed a US$ 10.8m loan to finance renewable energy projects in Kenya.
Chase Bank Chief Executive Paul Njaga confirmed the reports and said that the money will be lent to businesses that want to invest in renewable energy technologies projects such as small hydro, biomass, biogas, solar, geothermal and other energy efficient measures.
“This is a 12-year facility and will therefore address long term funding requirements in energy projects. The total committed amount is US$ 10.8m of which some amount will be available immediately for lending,” he said.
ARM Cement in Kenya to adopt new cement production technology
Cement manufacturer ARM Cement in Kenya has announced that it will launch a new technology in the production of cement, a move that will significantly reduce the cost of construction,the firm’s chief executive has announced.
Speaking during a construction expo organised by Totally Concrete East Africa in collaboration with ARM Cement, chief executive Pradeep Paunrana said that the expensive technology in the production of cement was pushing up the final of houses.
He noted that the high cost of houses had made it hard for Kenyans to own houses.
“We need to be more economical to keep prices of finished houses within reach for final users – something that will not cost an arm and a leg for a house of office owner. We can achieve this by ensuring that that the materials that go into the construction of housing units are cheaply sourced and technologies are there to help us do this,” he said.
Chinese firm signs deal with Tatu City in Kenya to construct infrastructure
Chinese firm Sinohydro, has signed an infrastructure construction deal with Tatu City in Kenya. The deal will see the water, sewerage and temporary road works developed.
The agreement worth US$ 4m will cater for basic infrastructure that will supplement the first phase of the project and another seven-kilometre temporary road will be constructed to help facilitate ongoing construction activities.
“We are pleased to extend our co-operation with Sinohydro, which has already successfully completed several stages of Tatu City’s infrastructure development,” said Tatu City Acting CEO Anthony Njoroge.
The 2,500-acre Tatu City in Kenya which is expected to be complete over the next year will host a number of international businesses like Dormans, Kim-Fay and Maxam.
Construction of the Kenya-Ethiopia converter substation to commence
Kenya Electricity Transmission Company (KETRACO) has announced that the construction of US$ 230m high voltage direct current Kenya-Ethiopia converter substation is now set to begin.
A US$ 230m contract between KETRACO and a consortium of Siemens AG and Isolux Inginieria for the construction of the sub-station has already been signed.
The project which will be constructed in Suswa is intended to create power lines that will link Kenya to Ethiopia. It is being funded by the World Bank and is considered as an important interconnector between the two countries.
