National Cement plans Sh1.7bn coal fired power plant

Corporate News

 

National Cement factory on Mombasa Road. The firm aims to save on energy costs with a Sh1.7 billion power plant in Kajiado County. PHOTO | FILE 

By KIARIE NJOROGE, knjoroge@ke.nationmedia.com

In Summary

• National Cement to generate its own electricity for limestone mining, clinker manufacturing.
• The firm will transport the clinker to its factory in Lukenya –where it produces finished cement — whose capacity is being expanded to 1.7 million tonnes per annum from the current 600,000 tonnes.
• Cement production is a power-hungry process, making energy costs one of the largest expense items for manufacturers of the commodity.

National Cement is set to build a 15 megawatt coal-fired power plant in Kajiado at a cost of Sh1.7 billion as part of its expansion plan.

The plant will feed its upcoming limestone mining and clinker manufacturing operation in the same location.

National Cement will transport the clinker to its factory in Lukenya –where it produces finished cement — whose capacity is being expanded to 1.7 million tonnes per annum from the current 600,000 tonnes.

Investors set up floating restaurant on L Victoria

Corporate News

Passengers enjoy a ride on MV Kipepeo on lake Victoria. The vessel, which hosts a hotel, will be commissioned in December 2014. PHOTO | TOM OTIENO 

By MOSES ODHIAMBO

In Summary

• The restaurant, aboard a ship, will be commissioned in December.
• The ship, MV Kipepeo, has a capacity of 200 passengers and will be used for excursions to attractive sites within the lake.

A new floating restaurant has been set up in Kisumu as savvy investors seek to reap from tourists to Lake Victoria.

The restaurant, aboard a ship, will be commissioned in December.

The ship, MV Kipepeo, has a capacity of 200 passengers and will be used for excursions to attractive sites within the lake. Mbita Ferries, the company which owns the restaurant, runs transport between Lake Victoria’s islands.

SA couple take on Branson with luxury camp

Corporate News

An artistic impression of the upcoming Angama Mara. The luxurious tented camp located in the Maasai Mara National Reserve targets high-end holidaymakers with offers of $1,250 per person per night in the high season. PHOTO | COURTESY 

By DAVID HERBLING, hdavid@ke.nationmedia.com

In Summary

• Steve Fitzgerald and his wife Nicky are building a deluxe camping facility dubbed Angama Mara made up of two camps each with 15 tented suites.
• Angama Mara set to open in June targets wealthy clients at Sh111,000 a night.

A South African couple is taking on British billionaire Richard Branson with a $14 million (Sh1.2 billion) luxury tented camp in the world-famous Maasai Mara National Reserve, targeting high net worth holidaymakers.

Steve Fitzgerald and his wife Nicky are building a deluxe camping facility dubbed Angama Mara made up of two camps each with 15 tented suites.

Blackphone set to make Africa debut in Kenya

Corporate News

The Blackphone is billed as a security and privacy-first device. PHOTO | FILE 

By EVELYN SITUMA

The Blackphone, billed as the most secure smartphone in the world, will be available locally from next month.

Kenya will be the first country in Africa to get the phone after its debut in Europe, Middle East and the US in July this year.

Looming rivalry hits Safaricom share

Money Markets

 

Equity’s thin SIM-card. PHOTO | DIANA NGILA 

By GEOFFREY IRUNGU, girungu@ke.nationmedia.com

The looming competition in the telecoms sector has hit Safaricom share on the Nairobi Securities Exchange (NSE), with investors losing Sh30 billion in the past one month.

Pancontinental to drill Lamu in Q4 2015 Lamu

Money Markets

Pancontinental said exploration for the onshore part of the block is fully funded. PHOTO | FILE 

By CHARLES MWANIKI, cmwaniki@ke.nationmedia.com

In Summary

• Pancontinental holds a 16 per cent stake in the L6 onshore block, with Dubai-based Milio Ltd holding 60 per cent and Australian explorer FAR Ltd 24 per cent.

Australian oil explorer Pancontinental says the drilling of the first well in the Lamu L6 onshore oil block will begin quarter four of 2015.

IMF team jets in for review of economy ahead of funding deal

Money Markets

The officials are seeking greater commitment to fiscal discipline, especially in view of the spending by the county governments. PHOTO | FILE 

By GEOFFREY IRUNGU

International Monetary Fund (IMF) staff last week flew in to conduct a review of economic developments ahead the board’s consideration of a new financing and policy programme next month.