Giant corporations across the world are betting high on Africa economy. Africa received worth $8.5 billion total investment in May to June. Construction industry is being perceived by multi-national companies as most lucrative industry.
From construction of road links to power plants, major Africa investment announcements have been made by either national governments or by joint ventures.
Let’s check top five developments in African construction industry.
$1 Million Fund Granted for Mozambique’s Business Linkage Corridor
APSA, African Private Sector Assistance Fund, has granted $1 million fund for Nacala Corridor Business Linkages Technical Assistance Project in Mozambique. To implement Private Sector Development Strategy of African Development Bank, APSA provide financial assistance for development project. Read more
Egypt to Invest $575 Million in Rail Infrastructure Upgradation
Egypt’s Mistry of Transport and Egypt National Railways have signed a $575 million investment agreement with General Electric to develop technologically most advanced available rail model. Egypt is a most developed economy of Africa and need of best rail infrastructure was felt for long. Read more
World Bank Provides $150 Million Credit for Ghana’s Road Connectivity Project
Ghana gov’s road connectivity project, Transport Sector Improvement Project, has been in poorer state than rest of the African countries. Keeping this fact in mind, World Bank’s International Development Association has given $150 million credit line for the project. Read more
Construction of 158 MW Geothermal Power Plant Starts in Kenya
President Uhuru Kenyatta has given green signal for the construction of Olkaria V geothermal power project in Olkaria of Kenya. Kenyan engineers are building this plant which will produce 158 MW electricity generated from geothermal power. Read more
Three Major Bypass Projects in Consideration by Mauritius
Minister of Public Infrastructure and Land Transport, has announced that in order to further improve road connectivity, three bypasses are under consideration by Mauritius. The three bypasses are Cap Malheureux Bypass, St Julien Bypass and a Link road. Read more