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Construction

Local banks are reporting challenge in funding construction of 10,000km of roads in a roads annuity program organized by the government of Kenya. The road construction project, which was to see roads across the country tarmacked in a period of five years have and perceived to be one of the ambitious infrastructural plans to be witnessed since independence, is said to be discouraging participation of banks due to the complicated financing model. The roads annuity financing model, according to the banks could make them give non-performing loans according to industry sources.

Construction

Tongyi Allied Mining Limited, a Chinese firm has announced plans for setting up a steel smelting plant in Nasarawa State, Nigeria at a cost of US$50m. This was revealed by the company?s project manager Vincent Yuan during his courtesy visit to the Minister of Mines and Steel Development, Musa Sada, in Abuja. During his visit, he also revealed that the company aims at adding value to the mining sector based on support given by the governments. ??We have embarked on a whole lot of mining and development activities since we established the company here in Nigeria in 2009.? He added.

Construction

Local banks are reporting challenge in funding construction of 10,000km of roads in a roads annuity program organized by the government of Kenya. The road construction project, which was to see roads across the country tarmacked in a period of five years have and perceived to be one of the ambitious infrastructural plans to be witnessed since independence, is said to be discouraging participation of banks due to the complicated financing model. The roads annuity financing model, according to the banks could make them give non-performing loans according to industry sources.

Construction

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