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10 NEWS Dangote to invest $4.6 billion in Nigerian agriculture
Dangote Group plans to invest US$3.8 billion in sugar and rice and $800 million
in dairy production across Nigeria over the next three years.
The industrial conglomerate, owned by Africa’s richest
man Aliko Dangote, hopes the cash injection into Nigeria’s agricultural industry will reduce its reliance on imported goods as the economy recovers from last year’s recession.
Eskom signs $1.5 billion Chinese coal deal
Eskom has signed a US$1.5 billion loan agreement with China Development Bank (CDB) to  nance its large-scale Medupi coal power plant.
The state-run South African
utility giant con rmed it had secured funding from China for the power plant at a signing ceremony in Johannesburg.
The Medupi power plant is set to become the world’s fourth largest coal- red plant, producing 4,800MW of energy. It is due to begin commercial operation in 2018 .
Schlumberger commits $700 million to Nigerian oil company
Schlumberger has signed a US$700 million deal with the state-owned Nigerian oil company to develop two oil elds in the West African country.
The world’s largest oil eld services company will supply the services and capital, in partnership with Nigerian National Petroleum Corporation (NNPC) and FIRST Exploration & Production, to develop the Anyala and Madu  elds until  rst production.
The  elds, estimated to have reserves of 193 million barrels of crude and 800 billion standard cubic feet of gas, will pump 50,000 barrels of oil and 120 million standard cubic feet of gas per day when completed in early 2019, according to an NNPC statement.
“Apart from providing funding for the development of the  elds, Schlumberger would also provide other oil- eld services on a limited exclusive basis,” NNPC said in the statement.

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