The world’s two largest cement makers are in advanced talks to merge into a company that would have a stock market value of more than $30bn euros (£25bn). A deal between France’s Lafarge and the Swiss Holcim group would be the industry’s biggest ever merger. @BBC 

 

The Kenyan government will invite bids for the delayed sale of five State-owned sugar factories at the end of this month. The parliamentary committee on agriculture said on Wednesday that the sale will be either through an auction or private treaty. The latter is where a sale price is set and the government waits for investors keen on the stakes. “This activity is estimated to take at least two years,” the Agriculture ministry said in a statement read by Mohammed Noor, chair of the parliamentary agriculture committee, adding that Parliament had approved the sale. @business daily

European Investment Bank (EIB) Thursday signed an agreement to advance African Trade Insurance Agency (ATI) €2 million (Sh238.2 million) to boost training in the energy sector. ATI an institution with expertise in risk mitigation on investments will use the grant to obtain specialist skills for underwriting energy sector projects. @business daily 

Total Kenya ended its two-year loss-making streak in the year ended December, helped by the retirement of expensive short-term loans in a process that will see the French parent haul off most of the gains. The oil marketing subsidiary announced a Sh1.3 billion net profit in the period under review, reversing net losses of Sh202 million (in 2012) and Sh71.4 million (2011). The performance was largely driven by a saving of Sh1.2 billion in finance costs following its parent firm Total Outre-Mer’s injection of Sh5.2 billion in 2012 to retire the oil marketer’s pricey loans.@business daily

 

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Kenya Engineer is the definitive publication of Engineers in East Africa & beyond and the official journal of the Institution of Engineers of Kenya. Kenya Engineer has been in publication since 1972.

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