KenGen Shines at the East African Power Industry Awards in Kenya
The Kenya Electricity Generating Company, KenGen scored a double win at the inaugural East African Power Industry Awards in Nairobi on Thursday evening when the utility won the Outstanding Clean Power Award and also took top place in the Excellence in Power Generation category.
Other popular winners were Dr Albert Butare, former Energy Minister of Rwanda who won the Lifetime Achievement Award for East Africa, as well as H.E. Dr Elham Mahmoud Ahmed Ibrahim from Ethiopia who is the African Union’s Commissioner for Infrastructure and Energy who won the Outstanding Woman in Power, Regional Award East Africa.
Tender for the construction of the Kenya-Uganda pipeline to be announced
A tender for the construction of the US$ 4bn Kenya-Uganda pipeline that is expected to cover 1,500km is set to be announced before the end of this year.
The construction project has been incorporated into the Lamu Port- South Sudan-Ethiopia Transport Corridor (Lapsset) infrastructure project.
The Lapsset Corridor Development Authority (LCDA) confirmed the reports and said that the tender that will be inviting companies to submit bids to put up the crude oil pipeline will be announced before the end of this year so as to pave way for the construction works which are projected to commence in early 2016.
PLANS FOR NEW KIPEVU OIL TERMINAL ON COURSE
PRELIMINARY designs on the planned relocation of the Kipevu oil terminal in Mombasa are being finalised to pave way for the tendering process, Kenya Ports Authority managing director Gichiri Ndua has said.
Danish consultancy firm Niras is overseeing the relocation of the oil terminal, which will expand the country’s petroleum handling and storage capacity by almost 400 per cent.
“We have engaged a consultant who is finalising the designs in regard to the planned relocation of the Kipevu oil terminal,” Ndua said. KPA principal communication officer Hajj Masemo said the project is part of the Mombasa port infrastructure development.
Bamburi Cement net profit nearly doubles in first half
A boom in construction and foreign exchange gains has helped Bamburi Cement’s net profit almost double for the six months to June. The cement manufacturer reported an 86 per cent leap in net profits to Sh3 billion, with the management projecting an even better second half.
The company, which is controlled by France’s Lafarge, attributed the strong performance to growth in demand in its two main markets, Uganda and Kenya, cost cutting and gains in its dollar-based liquid assets due to a steep weakening of the Ugandan and Kenyan currencies. “We are optimistic that the business environment will remain stable in the second half of the year,” said Managing Director Bruno Pescheux. The depreciation of the shilling enabled the firm to book more than Sh357 million in gains for the six-month period that was earned from dollar denominated liquid assets, which the firm did not disclose.
