Powered by
Radisson Hotel Group has signed an agreement with Cairo-based business partner Zaghloul Holdings for six new hotels in Egypt as part of a portfolio deal across several of its brands.
The Multilateral Investment Guarantee Agency (MIGA) has announced that it is providing a guarantee of €164.5m to two investors - EDF International and STOA - in Nachtigal Hydropower Company, which is responsible for the development of a hydropower plant in Cameroon.MIGA, a member of the World Bank Group, has provided Breach of Contract cover for up to 15 years to the two investors. The agency guarantees have been provided alongside payment and loan guarantees from the IBRD, and an investment, loan and risk management swaps by IFC.Located on the Sanaga River, about 65km north-east of Yaounde, the 420MW hydropower plant will contribute an additional 30% of installed generation capacity in Cameroon in addition to the climate co-benefits.The plant will generate enough electricity to power 453,000 homes, and help avoid 41 million tons of CO2 emissions over next 40 years.Nachtigal Hydropower Company and the Republic of Cameroon will develop the power plant on build, own, operate and transfer basis under a 35-year concession agreement.The power generated from the plant will be sold to Energy of Cameroon (ENEO), a privately-owned electricity distribution company, under a power purchase agreement.Upon completion, the Nachtigal Hydropower Project will be connected to the Southern interconnected grid, which represents about 94% of the Central African country’s national electricity consumption.MIGA EVP & CEO Keiko Honda said: “As a project in an IDA-eligible country, as well as one with significant climate change mitigation benefits, the Nachtigal Hydropower Project is a high priority for MIGA.“Equally importantly, I am pleased this project has mechanisms to help address environmental and social concerns, which are of utmost importance to MIGA.”STOA deputy CEO Marie-Laure Mazaud said: "The Nachtigal Dam provides a concrete response to the significant demand for electricity in Cameroon, and is a reference project for the development of similar hydro projects in Africa in the near term.“We are pleased to collaborate with the Republic of Cameroon, EDF, IFC and Africa50 to provide sustainable and accessible energy for the Cameroonian population. The social economic impact of Nachtigal project will be huge in terms of local employment and economic growth."
The African Development Bank Group (AfDB) and South African power utility Eskom have signed a loan agreement of ZAR2.886bn ($206m) and $25m, which will be used to improve power transmission in Southern Africa.
The African Development Bank Group (AfDB Group) has approved $322.35m loans and grant to Burundi and Tanzania to finance the upgrade of Rumonge-Gitaza (45km) and Kabingo-Kasulu-Manyovu (260km) roads.
BESIX Group, Six Construct, a subsidiary of BESIX Group, and TGCC have been awarded the contract to design and build the Bank of Africa Tower.
DP World, a port operator that was founded by a merger of Dubai Ports Authority and Dubai Ports International, has broken ground on the multi-purpose Berbera port in Somaliland.
Danish energy solutions company Vestas has secured an EPC order from Parc Eolien Taiba N’Diaye, a company in which Lekela has a majority stake, for the 159MW Parc Eolien Taiba N’Diaye wind energy project in Senegal, Africa.
BESIX has won a contract to design and build the Nachtigal dam and hydroelectric power station on the River Sanaga, 65km north of Yaoundé in Cameroon, to increase the country’s supply of renewable energy.
Australian company WorleyParsons has signed a 22-month engineering contract with Kipeto Energy for the Kipeto Wind Power Project in Kenya, the second largest in the country after the Lake Turkana Wind Power Project.
Dubai-based trade enabler DP World has signed an agreement to build and operate modern logistics hub outside of Bamako, the capital city of Mali.
ACWA Power has inaugurated a 120MW Khalladi wind farm in Tangier, Morocco, which will supply clean power at competitive prices to large industrial companies, mostly operating in the cement sector.
Mercedes-Benz Cars, a division of German automobile manufacturer Daimler, will produce the next generation of the C-Class in East London, South Africa, and invest €600m in expanding the plant.
Upstream gas company Sound Energy has signed an agreement with a consortium comprising Enagas, Elecnor and Fomento under which the latter will take up the front-end engineering and design (FEED) and construction and financing of the infrastructure to commercialise the company’s existing gas discovery in Eastern Morocco.
Sogea-Satom, a subsidiary of Vinci, has secured two road infrastructure projects with a combined value of €214m in Cameroon.
The Nigerian National Petroleum Corporation (NNPC) is set to break ground on the 40-inchx614km Ajaokuta-Kaduna-Kano (AKK) gas pipeline and stations – the single biggest gas pipeline project in the history of oil and gas operation in Nigeria.
Dubai-based DP World has won a 30-year concession for the management and development of a greenfield multi-purpose port project at Banana, Democratic Republic of the Congo (DRC), with an option of a 20-year extension.
Israeli company Shikun & Binui has secured a $309m contract to build an airport in the African country of Uganda.
VINCI Energies has won a contract from the Societe d’Electricite du Senegal (Senelec) to install five new extra high voltage transformer stations, 200km of overhead and underground EHV transmission lines, 100 distribution substations in various parts of Senegal and a regional load dispatch centre.
French company VINCI Construction, in a joint venture with Andritz Hydro, has won a contract worth €284m to build the Abdelmoumen pumped storage hydroelectric plant (PSP) located 70km from Agadir in Morocco.
Nigerian Bulk Electricity Trading (NBET), a public liability company owned by the government of Nigeria, has inked a power purchase agreement (PPA) with Qua Iboe Power Plant (QIPP) to develop a $1.1bn power plant in Akwa Ibom.
With 11 websites and newsletters covering all the key areas within the construction industry, World Construction Industry Network is the leading global construction information resource. READ ABOUT US
PRIVACY POLICY
World Construction Network | www.worldconstructionnetwork.com is a product of GlobalData. Copyright © 2022 GlobalData. All rights reserved. 
