General Electric (NYSE:GE) Supporting Africa's Energy Infrastructures

Written By Christian DeHaemer

Posted July 30, 2015

“The potential in Africa is huge,” says Ireland.

That may sound like the setup for a joke, but its actually a statement from Jay Ireland, the General Electric (GE) CEO for Africa. He’s talking about the investments the company is about to make to improve Africa’s energy infrastructure.

The company receives orders from 25 African nations for equipment relating to transportation, energy production, health care, and aviation.

And over the next several months, GE will start this new wave of investment by sending equipment to Eni SpA, an Italian oil producer with assets in Ghana. The order is for $850 million worth of equipment to include gas turbines and centrifugal compressors. These will be delivered later this year, anAfrican Railwayd the project will begin producing oil by 2017.

Another equipment order is going to Angola, where the country is planning a new transportation hub in order to expand its economic diversity from just oil into mining, agriculture, and energy production. GE will supply 100 locomotives to Angola National Railways to help bolster this project.

60 wind turbine generator units are also going to Kajiado county in central Kenya. This project includes a 15-year service agreement and is worth about $155 million.

GE will also be supplying radiology infrastructure and training to 98 Kenyan hospitals.

The total cost of these projects together amounts to $2.5 billion, which is $500 million more than the target revenue from African orders. The equipment will be delivered “over the next two years” according to Ireland.

To continue reading…

Click here to read the Bloomberg Business article.

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Christian DeHaemer

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Christian is the founder of Bull and Bust Report and an editor at Energy and Capital. For more on Christian, see his editor’s page.

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