German elevators firm eyes Kenya’s real estate sector
A Germany-based firm has entered the Kenyan market, targeting the booming property sector to move sales of its elevators, escalators and passenger lifts.
ThyssenKrupp Elevators, which installed lifts and escalators at the World Trade Centre that re-opened last year in New York, joins the growing list of foreign firms that have forayed into Kenya’s construction sector.
It has partnered with Nairobi-based East African Elevator Company to supply the regional market.
Sri Lanka's Sierra Cables to build plant in Kenya
Sri Lanka based Sierra Cables plans to set up a manufacturing plant in Kenya targeting East Africa’s power generation projects.
According to a filing sent to the Colombo Stock Exchange dated September 21, 2015, the firm had recently done a survey in Nairobi on the feasibility of setting up a cable manufacturing plant.
“Results from the feasibility study indicated favourable financial outcomes and a formal project report had been approved by the Board of Directors for implementation in the forthcoming months,” Sierra’s report reads in part.
Kenya and Uganda to establish company to manage crude oil pipeline
Kenya and Uganda are making plans to set up an oil company to be owned by all the stakeholders in the $4 billion crude oil pipeline deal.
Daniel Kiptoo, Petroleum Legal Advisor to the Cabinet Secretary Davies Chirchir told the Nation that the planned company will help address conditions set by Uganda on the pipeline.
It will help the two countries move fast in decision making as well as agree on tariffs set for transporting oil per barrel.
Kenya and South Sudan to receive fibre optic connection
Kenya and South Sudan are set to benefit from being connected to a high-speed fibre optic cable within the next two years which will greatly enhance communication as well as inter-border trade.
The governments of both countries have initiated the fibre optic cable system as part of a wider initiative known as the Eastern Africa Regional Transport, Trade and Development Facilitation Project.
This project will also see the construction of a road from Eldoret to Lodwar and Juba which will link the two countries, as well as a common border post to accompany this. South Sudan will extend the cable from the Kenya-South Sudan border to Juba.
