China’s largest state-owned aluminum producer is pushing further into Africa to secure supplies of raw materials used to make the metal. Aluminum Corp. of China Ltd.’s Hong Kong unit plans to invest as much as $164 million in the Boffa bauxite project in Guinea, which has a total cost of $706 million, Chalco said in…
Ivory Coast is set to construct a mega thermal power plant after a complete negotiations with the local unit of France’s Eranove SA over a US $530 m deal. That could result in expansion of the county’s generation capacity by 5%. The gas fired facility which will be owned by Cie Ivoirienne de Production d’Electricite,…
Tanzania Petroleum Development Corporation(TPDC) is currently seeking a transaction adviser in regards to it US$ 30bn natural gas project that is currently entering a vital developmental stage. This comes hardly a month after one of the gas pipeline development partners signified that it would be signing the Host Government Agreement with Tanzania later this year…
The world’s three largest oil traders are competing to buy the African arm of Brazil’s Petrobras (PETR4.SA) that owns stakes in two major Nigerian offshore oil blocks, industry and banking sources with knowledge of the matter said, after submitting bids earlier this month. Last November, state-controlled Petroleo Brasileiro SA, known as Petrobras, launched the sale…
The federal government of Nigeria has signed a US $6.7bn contract agreement for the Ibadan-Kaduna segment of the Lagos-Kano rail line with China Civil Engineering Construction Corporation (CCECC). Commenting on the signed agreement, Yetunde Sonaike, Press Director, Federal Ministry of Transportation stated that the Minister of Transportation, Rotimi Amaechi, signed the contract and said the agreement was for the implementation of…