Kenyan tycoon to build Sh40bn Mozambique gas power plant

Kenyan tycoon to build Sh40bn Mozambique gas power plant

MK254

MK254

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MR HUMPHREY KARIUKI. FILE PHOTO | NMG

Tycoon Humphrey Kariuki’s Great Lakes Africa Energy (GLAE) has entered an agreement with the Mozambique government to generate electricity using natural gas for domestic use at a cost of Sh40 billion ($400 million).

The UK-based pan-African energy solution firm develops and operates power projects in southern Africa.

The agreement signed last Friday in Maputo will see the construction of a 250 megawatt (MW) gas-fired electricity generating power plant.

The agreement follows Rovuma Basin domestic gas tender whose results were announced in January 2017 with the firm clinching a Sh37.5 billion contract.

The gas concession was the second venture into the southern Africa energy sector for GLAE, established in 2013.
Offshore gas

“As part of the Mozambique government’s intended use of natural gas for the development of domestic power projects, GLAE will develop, finance, build, own and operate a 250 MW gas-fired electric generating power plant, planned in northern Mozambique,” said director Michael Kearns.

Mozambique, which has vast offshore gas resources, has decided to use some for domestic power projects to achieve sustainable economic growth.

The businessman has interests in a large number of Kenyan enterprises, which include The Hub Mall in Karen, Africa Spirits Ltd, Dalbit Petroleum, five-star Fairmont Mt Kenya Safari Club and Mt Kenya Wildlife Conservancy and Animal Orphanage.

At 250 MW, GLAE Mozambican gas-fired power plant will be one of the largest conventional sources of electricity in the country.

Zambia copper belt

GLAE also owns and operates a 105 MW power plant in the Zambia’s copper belt town of Ndola, through Ndola Energy Company Ltd (NECL) under a power purchase agreement with the Zambia Electricity Supply Corporation (ZESCO).

Phase one of the project producing 50 MW of power was completed in 2013.

In February 2017, NECL commissioned phase two adding 55 megawatt of power to the national grid.

The firm is in the process of securing additional power purchase agreements in Africa and beyond and is currently examining opportunities in Kenya, Uganda, Malawi, Zimbabwe and Democratic Republic of Congo.

Tycoon Kariuki to build Sh40bn Mozambique gas power plant
 
Amazing. Hapana machezo. Kenyan international businessmen.
 
naona hii imekuwa ni habari kubwa "kwenyu". hongera kwake ila mkae mkijua kuna mtz yupo hatua nyingi mbele katika uwekezaji wa viwanda nje ya mipaka ya tz.

anaitwa salim said bakhresa...bila shaka jina lake sio geni "kwenyu".

sina haja ya kuandika maneno mengi... screenshots hapa chini zinajieleza.
IMG_20180523_123418.jpg
IMG_20180523_123450.jpg
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mwaswast said:
Nyang'au hachelewi sio kungoja tuta na tuna zile za magufooliland.
Click to expand...
[emoji116][emoji116][emoji116][emoji116][emoji116][emoji23][emoji23][emoji23]
kadoda11 said:
naona hii imekuwa ni habari kubwa "kwenyu". hongera kwake ila mkae mkijua kuna mtz yupo hatua nyingi mbele katika uwekezaji wa viwanda nje ya mipaka ya tz.

anaitwa salim said bakhresa...bila shaka jina lake sio geni "kwenyu".

sina haja ya kuandika maneno mengi... screenshots hapa chini zinajieleza.
View attachment 784251View attachment 784252View attachment 784253View attachment 784254
Click to expand...
 
Lewis254 said:
USD 2million na USD 400million ni wapi na wapi?
Click to expand...
endelea tu kujiuliza maswali...hapa kazi tu.. mlidhani jua linazunguka kenya pekee.
[emoji23] [emoji23] [emoji23] [emoji23] [emoji23] [emoji23] [emoji23] [emoji23]
 
Lewis254 said:
USD 2million na USD 400million ni wapi na wapi?
Click to expand...
actually he invested over $20 mln

New Investor to Troubled Blue Ribbon Foods's Rescue, Injects $21m

One of the country's biggest milling companies, Blue Ribbon Foods, has received a $21 million capital injection from a regional investor.

Bakhresa group of companies which is headquartered in Tanzania gave Blue Ribbon a new lease of life by revitalizing its Msasa plant which managed to procure a new $3 million wheat milling plant from Turkey whose installation of the initial arrived consignments is underway.

The new investor has also revitalized the company's Southerton (Harare) maize plant which started production early this year.

Blue Ribbon Foods has reopened its Bulawayo plant which is supplying mostly Bulawayo Metropolitan, Matabeleland, Masvingo and some parts of Midlands provinces.

Speaking at the tour of their Msasa plant by the Industry and Commerce Minister Mike Bimha on Tuesday, the company's managing director Mounir Bakhressa, said foreign currency shortages were derailing their efforts to expand operations.

"The new machinery that we imported from Turkey costs $3, 2 million, the remaining balance is $1, 5 million and we will need to settle this amount before final shipment of the last consignment. We also want to see this project take off as soon as possible without any hassles," he said.


"Non-payment will result in the negation by supplier to release the other consignments of the wheat mill. With this new plant our local farmers are assured of a ready market for their wheat produce," said the investor.

Bakhressa said if government did not assist them they were likely be forced to close shop.



"We, therefore, kindly request for your intervention on these issues as it is now affecting the going concern of the business. We still require maintaining the confidence of our principals both on current operations and any future businesses.

"If we do not get immediate support on the above we are likely to face a temporal production stoppage, a situation we want to avert before if happens.

We wish to take this opportunity to invite you to participate on the plant tour by the Minister of Industry, Commerce and Enterprise development," he said.



Minister Bimha said his office was going to treat the Blue Ribbon issue with the urgency it deserved.

"My Ministry is intrigued by the level of commitment that has been shown by the Bakhresa Holdings in investing in this country.

"l am informed that since 2015, our friends from Tanzania have injected an outstanding amount of $21.5 million in Blue Ribbon Foods Limited.

"This has resulted in 300 people being directly employed by the company and thousands of upstream and downstream industries such as bakery, transport and agriculture sector and this commendable effort is a clear testimony that you mean business and you are here for business," he said.

Blue Ribbon Foods was under judicial management until the recent coming in of the new investor.

Former Zanu-PF national political commissar and G40 kingpin Mr Saviour Kasukuwere returned home yesterday after spending… Read more »


Read the original article on New Zimbabwe.

http://www.newzimbabwe.com/business-46834-Troubled+Blue+Ribbon+Foods+in+$21m+boost/business.aspx
 
kadoda11 said:
endelea tu kujiuliza maswali...hapa kazi tu.. mlidhani jua linazunguka kenya pekee.
[emoji23] [emoji23] [emoji23] [emoji23] [emoji23] [emoji23] [emoji23] [emoji23]
Click to expand...
umekosa comeback.
endeleeni kufungua vyerehani vinne kila pahali na kuviita 'viwanda'.
 
Geza Ulole said:
actually he invested over $20 mln

New Investor to Troubled Blue Ribbon Foods's Rescue, Injects $21m

One of the country's biggest milling companies, Blue Ribbon Foods, has received a $21 million capital injection from a regional investor.

Bakhresa group of companies which is headquartered in Tanzania gave Blue Ribbon a new lease of life by revitalizing its Msasa plant which managed to procure a new $3 million wheat milling plant from Turkey whose installation of the initial arrived consignments is underway.

The new investor has also revitalized the company's Southerton (Harare) maize plant which started production early this year.

Blue Ribbon Foods has reopened its Bulawayo plant which is supplying mostly Bulawayo Metropolitan, Matabeleland, Masvingo and some parts of Midlands provinces.

Speaking at the tour of their Msasa plant by the Industry and Commerce Minister Mike Bimha on Tuesday, the company's managing director Mounir Bakhressa, said foreign currency shortages were derailing their efforts to expand operations.

"The new machinery that we imported from Turkey costs $3, 2 million, the remaining balance is $1, 5 million and we will need to settle this amount before final shipment of the last consignment. We also want to see this project take off as soon as possible without any hassles," he said.


"Non-payment will result in the negation by supplier to release the other consignments of the wheat mill. With this new plant our local farmers are assured of a ready market for their wheat produce," said the investor.

Bakhressa said if government did not assist them they were likely be forced to close shop.



"We, therefore, kindly request for your intervention on these issues as it is now affecting the going concern of the business. We still require maintaining the confidence of our principals both on current operations and any future businesses.

"If we do not get immediate support on the above we are likely to face a temporal production stoppage, a situation we want to avert before if happens.

We wish to take this opportunity to invite you to participate on the plant tour by the Minister of Industry, Commerce and Enterprise development," he said.



Minister Bimha said his office was going to treat the Blue Ribbon issue with the urgency it deserved.

"My Ministry is intrigued by the level of commitment that has been shown by the Bakhresa Holdings in investing in this country.

"l am informed that since 2015, our friends from Tanzania have injected an outstanding amount of $21.5 million in Blue Ribbon Foods Limited.

"This has resulted in 300 people being directly employed by the company and thousands of upstream and downstream industries such as bakery, transport and agriculture sector and this commendable effort is a clear testimony that you mean business and you are here for business," he said.

Blue Ribbon Foods was under judicial management until the recent coming in of the new investor.

Former Zanu-PF national political commissar and G40 kingpin Mr Saviour Kasukuwere returned home yesterday after spending… Read more »


Read the original article on New Zimbabwe.

http://www.newzimbabwe.com/business-46834-Troubled+Blue+Ribbon+Foods+in+$21m+boost/business.aspx
Click to expand...
so $20million is greater than $400million ?
 
mwaswast said:
Nyang'au hachelewi sio kungoja tuta na tuna zile za magufooliland.
Click to expand...
Great lakes Africa energy does not belong to him alone to start yapping ati mkenya ka-invest

UK to build gas-fired power plant in Mozambique
GLAE will develop, finance, build, own and operate a 250-megawatt gas plant.
Devdiscourse News DesK 22 May 2018, 12:07 PM Mozambique

  • The project is estimated at EUR 340 million and the memorandum is signed after the company was selected in a gas allocation competition. (Image Credit: Wikipedia)
The Government of Mozambique and a UK company announced yesterday the signing of a memorandum of understanding for the use of natural gas to be exploited in the Rovuma basin in the north of the country for the production of electricity.

Great Lakes Africa Energy (GLAE) will "develop, finance, build, own and operate a 250-megawatt gas plant," said Michael Kearns, director of GLAE, quoted in a company statement.

The project is estimated at EUR 340 million and the memorandum is signed after the company was selected in a gas allocation competition for domestic purposes, the results of which were announced in January 2017.

According to the company, the plant will be "one of the largest sources of electricity in Mozambique" and will allow accelerating the development of other industrial projects "that have been stopped due to the lack of a stable energy supply."

GLAE is a UK registered company established in 2013 that invests in energy solutions in the Great Lakes and Southern Africa regions. Exploitation of gas reserves at Rovuma is expected to begin in 2022.

UK to build gas-fired power plant in Mozambique | Global Edition
 
Baada ya ku colonise eastafrica yote Hadi Tanzania sasa tumeenda msubiji kwa kasi😛😀😀😀
 
Geza Ulole said:
Great Lakes Africa Energy (GLAE) doesn't belong to him!
Click to expand...
😀😀😀
Tycoon Humphrey Kariuki’s Great Lakes Africa Energy (GLAE) has entered an agreement with the Mozambique government to generate electricity using natural gas for domestic use at a cost of Sh40 billion ($400 million).
The UK-based pan-African energy solution firm develops and operates power projects in southern Africa.
Click to expand...
 
Geza Ulole said:
Great lakes Africa energy does not belong to him alone to start yapping ati mkenya ka-invest

UK to build gas-fired power plant in Mozambique
GLAE will develop, finance, build, own and operate a 250-megawatt gas plant.
Devdiscourse News DesK 22 May 2018, 12:07 PM Mozambique

  • The project is estimated at EUR 340 million and the memorandum is signed after the company was selected in a gas allocation competition. (Image Credit: Wikipedia)
The Government of Mozambique and a UK company announced yesterday the signing of a memorandum of understanding for the use of natural gas to be exploited in the Rovuma basin in the north of the country for the production of electricity.

Great Lakes Africa Energy (GLAE) will "develop, finance, build, own and operate a 250-megawatt gas plant," said Michael Kearns, director of GLAE, quoted in a company statement.

The project is estimated at EUR 340 million and the memorandum is signed after the company was selected in a gas allocation competition for domestic purposes, the results of which were announced in January 2017.

According to the company, the plant will be "one of the largest sources of electricity in Mozambique" and will allow accelerating the development of other industrial projects "that have been stopped due to the lack of a stable energy supply."

GLAE is a UK registered company established in 2013 that invests in energy solutions in the Great Lakes and Southern Africa regions. Exploitation of gas reserves at Rovuma is expected to begin in 2022.

UK to build gas-fired power plant in Mozambique | Global Edition
Click to expand...
wacha ku-edit posts na kuingia mitini
 
Lewis254 said:
USD 2million na USD 400million ni wapi na wapi?
Click to expand...
bakhresa anamiliki state of the art milling factories nchini rwanda, uganda,malawi, mozambique, zimbabwe,seychelles, south africa na nchini india.

pia anamiliki modern commercial apartments katikati ya jiji la dubai.

hizo ni investment zake zinazopatikana nje ya mipaka ya tanzania, sijataja zile zilizopo ndani ya tz.

thamani ya investment zake za nje ya nchi ni zaidi ya USD 900.

najua utarudi na povu la kutaka kubishana....utabishana na kivuli changu cos siku hizi nipo busy sana na shughuli zangu za kulijenga taifa. sina mda mchafu wa ku argue na wakenya...nilishawapuuza.[emoji23]
 
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