Project Finance |

Nordex Wins Order for 80 Wind Turbines to South African Projects

JOHANNESBURG (Capital Markets in Africa) – Nordex SE was awarded contracts to supply 80 turbines with a total capacity of 252 megawatts to the Garob and Copperton onshore wind projects in South Africa. The turbine manufacturer will build 46 AW125/3150 units for the Garob project ordered by Enel Green Power and 34 for Copperton ordered by developer Elawan, Hamburg-based Nordex said in a statement. “Such announcements bode well for the beleaguered projects that had to wait…

Exxon Punished for Departing From Big Oil’s Austerity Hymnal

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Exxon Mobil Corp. is ramping up capital spending even as the rest of Big Oil preaches prudence. Investors punished the outlier. The world’s biggest publicly-traded oil company by market value unveiled an aggressive revamp of its upstream portfolio on Wednesday, lifting cash outlays by at least 25 percent to more than $30 billion a year in the early 2020s. That’s in stark contrast to rivals such as Chevron Corp. which…

Equatorial Guinea, Burkina Faso Agree LNG Supply and Sales Pact

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Equatorial Guinea said it signed a memorandum of understanding with Burkina Faso to supply the West African nation with liquefied natural gas and build infrastructure to import, store and transport the fuel. The initial three-year agreement compels both sides to negotiate and sign an LNG supply agreement and a terminal use deal, Equatorial Guinea’s Ministry of Mines, Industry and Energy said in an emailed statement on Monday. The countries will…

Ethiopia plans to offer firms shares in road projects

Posted on by The Editorial Team

ADDIS ABABA (Capital Markets in Africa) – Ethiopia plans to offer shares in its road-building and maintenance projects to private investors, its finance minister said on Tuesday, the latest step to open up and modernize the state-led economy. The Horn of Africa country has over 113,000 kilometres (68,0000 miles) of paved roads and plans to increase that to 220,000 kilometres by 2019/20, official data showed. “We do not have private-run roads. Through public-private partnerships, the…

Mota-Engil, CMEC of China Win $2.3 Billion Mozambique Project

Posted on by The Editorial Team

MAPUTO (Capital Markets in Africa) – Thai Mocambique Logistics SA, which is developing a $2.3 billion railway and port to export coal from central Mozambique, awarded the construction contract to Mota-Engil SGPS SA and China National Complete Engineering Corp. An agreement is expected to be signed next month, TML Chief Executive Officer Jose Pires da Fonseca said in an interview Tuesday in the Mozambican capital, Maputo. The total cost of the project, which will include a deep-water harbor…

Injaro sells stake in Burkina Faso seed producer

Posted on by The Editorial Team

Lagos (Capital Markets in Africa) – Injaro Investments, the manager of the agricultural impact fund IACHL, announces the sale of its 30% stake in seed producer NAFASO SA to the founders and other shareholders. This share sale represents a full exit from Nafaso after a holding period of just under four years. Injaro invested in Nafaso in March 2013. The company’s aim was to leverage the investment from Injaro (i) to increase Nafaso’s output of…

AfDB says gives Comoros $20 mln for road network

Posted on by The Editorial Team

NAIROBI (Reuters) – The African Development Bank is giving Comoros a $20.4 million grant to help it improve and expand its road networks, a move that will boost its agriculture and tourism sectors. The islands have few natural resources and largely rely on exports such as cloves and vanilla, remittances from citizens working abroad and foreign aid to finance development projects. AfDB said the money will be disbursed over five years. “The project will focus…

1 2 3 … 5 »