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Public-private partnerships key for gas infrastructure development in SADC region
Published: 19 Feb 18
Public-private partnerships are key to developing gas supply projects in the Southern African Development Community (SADC), Nepad Business Foundation (NBF) Africa infrastructure programme manager Peter Varndell said on Monday. Speaking at the Africa Gas Forum, in Johannesburg, he said there was strong gas supply potential in the SADC region, but a weak market to deliver to within SADC’s borders.
Eskom board called on to prove utility not trading recklessly Eskom board called on to prove utility not trading recklessly
Published: 19 Feb 18
The Institute for Accountability in Southern Africa has written to Eskom chairperson Jabu Mabuza requesting a detailed written explanation as to why the current board believes the State-owned utility can be rescued from its current financial distress, cautioning that Eskom may currently be trading “recklessly” in terms of the legislation governing companies in South Africa. Campaigning as Accountability Now, the institute asserts that Eskom is both insolvent and illiquid, making it unlikely that it will be able to meet operational costs and long-term debt obligations.
Africa not making the most of its gas reserves
Published: 19 Feb 18
Only 8% to 10% of Africa’s known gas reserves are being priortised, despite the fact that gas reserves on the continent are abundant, Catalyst Capital managing partner Adero Okudo said on Monday. Speaking at the Africa Gas Forum, in Johannesburg, she said there were only two crossborder pipelines operational in Africa.
Legacy issues, poor Q1 affect Rolfes' H1 earnings
Published: 19 Feb 18
Black-empowered chemical group Rolfes' financial results for the six months ended December 31 were negatively affected by legacy issues and a poor first quarter, resulting in headline earnings halving to R23.62-million, from R48.23-million in the six months to December 31, 2016. Revenue from continuing operations decreased by 7.8% to R734-million, compared with revenue of R796.4-million generated in the six months to December 2016.
Koeberg participating in development of other desalination projects Koeberg participating in development of other desalination projects
Published: 19 Feb 18
Apart from its recently announced temporary desalination plant, the Koeberg nuclear power station is working on a range of desalination projects, including a detailed feasibility study with the City of Cape Town on a large-scale desalination plant. If the feasibility study is successful, it will be followed up with a large-scale seawater desalination plant.
Coega SEZ receives EIA approval for desalination, aquaculture zones
Published: 19 Feb 18
The Coega Special Economic Zone (SEZ), in the Eastern Cape, has received environmental-impact assessment (EIA) approval for a 440 ha land-based aquaculture development zone (ADZ) and a desalination plant in Zone 10 of the Coega SEZ. “The approval of the EIA is a step towards fulfilling the Coega SEZ’s vision to host one of the largest ADZs in South Africa and, simultaneously, respond to the severe water shortages experienced in the Nelson Mandela Bay (NMB),” Coega Development Corporation (CDC) project development manager Dr Keith du Plessis said in a statement issued on Monday.
SA Mint new coin releases include Mandela-focused Celebrating South Africa series
Published: 19 Feb 18
South African Reserve Bank subsidiary, the South African Mint, has announced new collectables product ranges that will appear in the global coin market this year, including the ‘Celebrating South Africa’ series, which will commemorate the life of former President, distinguished Statesman and global icon Nelson Mandela. “A new bi-metallic R5 circulation and proof quality coin is central to this range, affording the general South African public and coin collectors alike the opportunity to celebrate Mandela’s birth centenary,” the Mint said in a statement on Monday.
Tribunal approves Barnes Southern Palace's acquisition of Scaw
Published: 19 Feb 18
The Competition Tribunal has conditionally approved the transaction, in terms of which holding company Barnes Southern Palace plans to acquire Scaw South Africa from the Industrial Development Corporation (IDC). To address information sharing concerns, the transaction was approved subject to a condition that, for as long as the IDC is able to appoint directors to the respective boards of CWI and Scaw, the IDC will ensure that its representatives on the board of Scaw are not the same persons serving, nominated and/or appointed on any board or management committees or subcommittees of CWI.
Commission recommends tribunal approve Southern Palace Group's Genrec buy
Published: 19 Feb 18
The Competition Commission has recommended to the Competition Tribunal that Southern Palace Group's (SPG's) proposed acquisition of steel fabrication and manufacturing business Genrec Engineering, from construction and engineering company Murray and Roberts, be approved without conditions. SPG, which is a black-managed investment holding company with diverse interests in real estate, industrial companies, information technology, metals, mining and construction, also has a presence in the steel products manufacturing and recycling industry, and the automotive trading and manufacturing industry. Genrec is a manufacturer of steel fabrication solutions and undertakes high, medium and heavy structural steel fabrication, structural steel, project services, steel erections and site services for construction companies. The commission found that the proposed transaction is unlikely to result in a substantial prevention or lessening of competition in the relevant market.
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