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The future of the largest mining company operating in Tanzania has been thrown into doubt following a hefty $190 billion fine.
Acacia, the London-based gold mining firm, was hit with the extraordinary fine by Tanzania’s government for allegedly operating in the country illegally and also for failing to fully disclose its export earnings over a 17-year span between 2000 and 2017.
The bill is split into $40 billion in unpaid taxes and an additional $150 billion in interest and penalties. The allegations are based on the findings of government-appointed committees. Last month, after the outcome of the government-ordered audit of the mining industry was released, John Magufuli, president of Tanzania, described Acacia’s operations in the country as a “kind of exploitation.”
The $190 billion fine represents round 40 times Acacia’s total revenue last year, nearly two centuries worth of revenue or four times the size of Tanzania’s GDP. In comparison, the mining sector contributed just 4% of Tanzania’s GDP in 2015. Acacia’s stock price has seen a slow slide since the audit report was released last month but news of the fine has wreaked havoc on the stock price which has since fallen sharply.

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The rooftop bar is one of three located in The Westin Sarasota.
Part of the Vue Sarasota Bay development, the 255-room Westin at U.S. 41 and Gulfstream Avenue opened today.
The public now has access to a portion of one of downtown’s biggest developments following the opening of The Westin Sarasota today.
The 18-story, 255-room hotel is located at 1175 N. Gulfstream Ave. The hotel is part of the Vue Sarasota Bay project, which also includes a 141-room condominium building still under construction.

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As high-profile downtown construction accidents draw attention, a lack of available workers is making building in Sarasota more challenging.
After emergency personnel rescued a worker suspended 11 stories above the ground at a Palm Avenue high-rise development — the second such mishap in the span of a month — David Simmons saw reason to be comforted about the safety of Sarasota construction sites.
In both incidents, the scaffolding on a high-rise building malfunctioned. But Simmons, a local construction safety consultant, noted that the workers remained suspended — and were rescued without serious injury — because they followed proper procedures.
“Their training worked — because those workers were tied off, they were using the equipment as they were supposed to be using it, and it saved lives,” Simmons said.

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As high-profile downtown construction accidents draw attention, a lack of available workers is making building in Sarasota more challenging.

After emergency personnel rescued a worker suspended 11 stories above the ground at a Palm Avenue high-rise development — the second such mishap in the span of a month — David Simmons saw reason to be comforted about the safety of Sarasota construction sites.

In both incidents, the scaffolding on a high-rise building malfunctioned. But Simmons, a local construction safety consultant, noted that the workers remained suspended — and were rescued without serious injury — because they followed proper procedures.

“Their training worked — because those workers were tied off, they were using the equipment as they were supposed to be using it, and it saved lives,” Simmons said.

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The Ethiopia to Djibouti electrified rail project is scheduled to commence commercial operations in October this year. Ethiopia Minister of Transport Ahmed Shide, announced.
The rail construction
The 756km rail project was constructed by two Chinese companies. The first 320 km of the rail project from Sebeta to Mieso was executed by the China Rail Engineering Corporation while the remaining 436 km from Mieso to Djibouti port section was constructed by China Railway Group.
The project has showcased China’s support to Ethiopia’s efforts of transform its economy through infrastructural development. Currently, the Ethiopia is conducting test runs on the railway, as well as finalizing the preparations to form a joint venture company with Djibouti to manage the project.
“We hope the rail project will facilitate expansion of industrial manufacturing and boost Ethiopia’s competitiveness by significantly cutting time needed for Ethiopia’s exports to reach Djibouti port,” said Minister Ahmed Shide.

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Tourists who come to Kenya either for holidays or business purposes have set a trend in the demand for serviced apartments. So much so that they are piling pressure on the few available high quality serviced apartments in Kenya. As a result, investors in Kenya have turned to the construction of homes in prime locations around the city. This is  to meet the increasing demand for non-hotel accommodation.
Investors and their developments
Presently, Chinese investors are putting up Soho Apartments, an 11-floor development in Kilimani. When completed, the apartments will be available for rent to international business executives  on a visit to Kenya. The average duration of stay on such is between 3 and 12 months.
Still within the same area, Mifta Holdings Limited is set to begin construction of 49.6m serviced apartments. With 15 floors, the Nine Oak development has a combination of studios, one and two bedroom apartments spread on a 0.375acre. Britam properties are also currently developing a $31.68m project.
Located on a 1.6 acre piece of land the project comprises 117 2 bedroom and 46 one bedroom apartments.  Britam Managing Director Benson Wairegi said that currently there is a huge demand for serviced apartments in Nairobi although the supply remains low. He further added that Nairobi will need at least 1000 serviced apartments within the next three years.
The rooms go from $115.2-192 for a two bedroom unit and $76.8-115.2 for a one bedroom unit per night. This will prove to be profitable to the investors as serviced apartments are a more affordable choice compared to sort-term hotel stays.
SOURCE: CONSTRUCTION REVIEW

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The World Bank is set to fund the construction of a US$ 30m complex in Nairobi, Kenya that will be developed by Chinese firm, Aviation Industry Corporation of China (AVIC).
The mega complex which is being overseen by the Kenya National Highways Authority (KeNHA) will house KeNHA, the Kenya Urban Roads Authority (Kura), the Kenya Rural Roads Authority (KeRRA), the Engineers Board of Kenya, the National Construction Authority (NCA) and the National Transport and Safety Authority (NTSA).
The construction will see the setting up of four office blocks covering 35,000 square metres, a 500-seater auditorium and a service building.
Avic, through its subsidiary, China National Aero-Technology International Engineering Corporation (Catic), was last year declared the best and lowest bidder in a pool of 19 contractors, having offered to do all the works for that amount.

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A US$ 9m sugar factory is set to be constructed in Siaya County, Kenya by a Kisumu businessman and owner of Foam Mattresses Limited.
This comes a time when sugar production is at a low and the industry facing a number of problems.
Surendra Patel, in partnership with an unnamed local investor will set up the plant dubbed South Gem Sugar Factory Limited.
It will have a capacity to crush 1,000 metric tonnes of cane per day and produce 2.5 metric tonnes of sugar.
Requirements
The projected sugar factory will require about 8,000 hectares of land under sugarcane cultivation, from which the expected average yield per hectare will be 60 tonnes.
The mega development is anticipated to create 300 jobs especially to the youth and locals.
“We have purchased some 40 acres of land where we intend to set up the factory. Once we get the prerequisite regulatory approvals, we shall source the equipment from India,” Mr Patel said.

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Blantyre Water Board (BWB) has complained about recent loss of water. This is includes  high energy costs when distributing water to its customers among other issues. The Distribution Manager, Booker Waya, made the remarks earlier on this week. He said that as a result the board is losing 50% of the water it pumps from Walkers Ferry due to leakages as well as burst pipes every day.
He further added that half of the water produced does not amount as part of their revenue due to leakages resulting from old pipes. As problem remains unsolved the board incurs losses.  Additionally, the meters in use are very old such that they are not accurate enough to measure the water that is passing through. This is also another issue costing them money.

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United Nations has warned Malawi against taking shortcuts as far as the Salima-Lilongwe Water Supply project is concerned. UNDP representative Mia Seppo said this is to avoid any setbacks.
The project seeks to pump water from Lake Malawi to the capital city. However, there has been concerns of lack of an environmental impact assessment (EIA).
President Peter Mutharika urged the civil society and development partners not to destroy the project. He further assured the people that the project will continue. The project that will be completed in 2022 will hlep solve water problems in the country.
Uncertainty
On the other hand, the Centre for the Development of People (Cedep) and Centre for Human Rights and Rehabilitation (CHRR) said the development partners were only asking for honesty in the dealings.

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Tanzania Ports Authority (TPA) has plans to construct an extensive dry port at Katosho, Kigoma. The port will be termed as one among the biggest investment made by the authority in modern times.
The project plan
According to Moris Nchindiuza, Kigoma Acting Ports Manager, TPA has finalized plans for the enormous forthcoming project to be constructed. However, the dry port will not only serve Tanzania, but also the East African countries as well as the Great Lake region.
The port will be of great significance particularly to the land locked countries of Uganda, Burundi and Rwanda. Other countries that will benefit from the project as well include Zaire and Zambia.
The compensation
Currently, TPA has disbursed US$5.4mn for compensation directed to 1228 affected people. The affected people are those whose lands have been taken over by the government at Katosho and Kigoma to pave way for the construction of the port.
Out of the 1228 affected people 1196 have already received their money. The remaining31 are yet to collect the compensation.
Development transformation
The completion of the project will enhance the development of Kigoma through job creation opportunities, hence transform it into a modern port.

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