World Business News

A US$ 120m potato processing factory and farm is set to be constructed in Manchok in Kaura Local Government Area-Nigeria.

Kaduna State Governor, Mr. Nasir El-Rufai flagged off the construction of the Potato Processing factory which is in line with the administration’s economic diversification programme.

“The state government was fully committed to supporting agricultural practices so as to enhance development, diversify the economy in the country and boost Internally Generated Revenue and through this initiative we are confident that the objective shall be met,” Mr. El-Rufai said.

Construction of Kenya’s six-lane highway moved a notch higher after Kenyan and US government and a California-based construction and engineering firm Bechtel held a successful meeting.

Head of the US government’s Overseas Private Investment Corporation (Opic) Elizabeth Littlefield and Bechel signed what they called a letter of interest regarding Kenya’s Six-Lane highway that is Nairobi-Mombasa highway project on the sidelines of the US-Africa Business Forum in New York early this week.

Oil production from the Sankofa Gye Nyame Oil Field, is expected to begin in the second quarter of 2017 while production of gas is expected start in second quarter of 2018. The oil field is the third producing asset after Jubilee and the TEN fields.

Currently, the implementation of the Sankofa Gye Nyame Gas Project is about 54% complete, while the Floating, Production and Storage and Offloading (FPSO) Vessel is almost 80% complete.

Daimler Commercial Vehicles India is getting into fully-built bus business and plans to start exporting 9-tonne Mercedes-Benz school buses to the Middle East by the end of this year.

The company, a wholly-owned subsidiary of Daimler AG, also plans to expand its product portfolio in the domestic market by bringing in a 16-tonne bus chassis next year.