Business
GE, Heirs Holdings Partner To Increase Oil Sector Investment
General Electric and Heirs Holdings have agreed to partner on expansion of their existing investment in the oil sector of Nigeria’s economy.
In a statement released by both companies to newsmen in Lagos at the weekend they said that both companies having identified the enormous opportunities in the upstream demand for oil and gas, are poised to collaborate in transforming the industry’s landscape”.
The statement said prior to the new collaboration between both companies, their collaboration had focused on Nigeria’s power sector, specifically the expansion of Transcorp ughelli Power Plant, Nigeria’s largest power station.
The statement added that the new approach is a clear demonstration of a new approach by multinational companies to develop meaningful and long term partnerships with credible and strong indigenous companies across a range of sectors.
According to the statement Heirs Holdings said that the expansion of the relationship represented a pivotal moment for the oil and gas industry and for the country’s businesses as a whole, adding that the company’s strategy is to domesticate value across the energy sector.
Heirs Holdings emphasised that the partnerships capture the spirit of Africapitalism to bring together global entities and world-class Nigerian companies to create the needed employment opportunities and economic values.
The partnership agreement will ensure the development of local capacity, technology transfer and leverage the best of global technology to deliver a solution fit for the African market.
The developing general Electric – Heirs Holdings relationship is expected to lead to significant investment and supply chain benefits for a whole range of Nigerian companies, operating across the industry value chain.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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