http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 14.17Change: 0.03
R/$ = 11.07Change: 0.01
Au 1238.28 $/ozChange: -4.47
Pt 1258.00 $/ozChange: 3.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Nov 20, 2007

2010 infrastructure costs could rise by as much as 20%

Back
Deputy Finance Minister Jabu Moleketi explains governments position on 2010 cost inflation
Construction|Pretoria|Africa|Cement|Concrete|Africa|South Africa|Building|Cement|Steel|Transport|FIFA|South African Government|Infrastructure|Jabu Moleketi|Trevor Manuel|FIFA World Cup|World Cup
Construction||Africa|Cement|Concrete|Africa||Building|Steel|Transport||Infrastructure||
construction|pretoria|africa-company|cement-company|concrete|africa|south-africa|building|cement|steel|transport-industry-term|fifa|south-african-government|infrastructure|jabu-moleketi|trevor-manuel|fifa-world-cup|world-cup
© Reuse this



The South African government's preparations to host the 2010 FIFA World Cup could overshoot their budgets by R2,8-billion to R3,4-billion, owing to cost escalations, the National Treasury said on Tuesday.

These were initial estimates, and more concrete figures on cost escalations in stadium and transport construction were expected to emerge in mid-December, deputy Finance Minister Jabu Moleketi told the media at a briefing, in Pretoria.

Rising input prices for materials, such as steel and cement, were to blame for the projected surge, but government had technical teams scrutinising what was contributing to these escalations.

The State had budgeted R8,4-billion for stadium construction and upgrades, and R9-billion for supporting infrastructure.

"By mid-December we are hoping to have a clear idea of the escalation of inputs," Moleketi stated. "It is only at that point when we will take a view on how to deal with the escalation and how the funding is going to take place."

He added that Finance Minister Trevor Manuel could provide more details in the 2008 budget vote.

"At the end of the day, we are going to ensure that we get a rand's value for all of the items that we procure, as well as all construction of the infrastructure," said Moleketi.

He said that government was also going to interrogate projections for "each and every item that goes into building the infrastructure".

Some 60% of the projected spend at some World Cup stadiums were based on "provisional sums", which meant that they had actually not yet been quantified, Moleketi commented, adding that government needed to "tie down" these contracts.

Moleketi concluded the media briefing by stressing that South Africa was "indeed, on time", and that there was no need for scepticism.

"Those sceptics will eat their words," he stated. "By 2010, they will have forgotten that they were sceptical in the first place."

Edited by: Mariaan Webb
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
Other Construction News
President Jacob Zuma has officially opened the Department of Environmental Affairs’ (DEA’s) new green head office, in Pretoria, describing it as an event that would usher in a new green-focused era for the South African construction industry. “[This building] will...
Despite South Africa’s industrial property sector outperforming the retail and office property markets, the fundamentals were not conducive to major expansions, investment analysis and market indexcompany MSCI subsidiary IPD executive director Stan Garrun said on...
Article contains comments
GRI Renewable Industries is investing in a R300-million wind-tower factory
The Western Cape government’s GreenCape sector development agency is finalising work on an application to have the Atlantis industrial area designated as a green-technology (greentech) special economic zone (SEZ). Atlantis SEZ project executive Mike Mulcahy tells...
Article contains comments
More
 
 
Latest News
Updated 9 minutes ago Certain regulatory approvals remain outstanding in Telkom’s proposed R2.67-billion takeover of JSE-listed Business Connexion (BCX). BCX noted in a statement to shareholders that the Namibian Competition Commission had given its approval of the deal on October 8 and...
Total CEO Christophe de Margerie
Updated 53 minutes ago The CE of French oil major Total, Christophe de Margerie, was killed when a business jet collided with a snow plough during takeoff at Moscow's Vnukovo International Airport, the company and airport officials said. The collision occurred late on Monday, just minutes...
A former employee of the Manufacturing, Engineering and Related Services Sector Education and Training Authority (Merseta) and his accomplice have each been sentenced to 20 years imprisonment after being found guilty of fraud by the Specialised Commercial Court, in...
More
 
 
Recent Research Reports
Defence 2014: A review of South Africa's defence industry (PDF Report)
Creamer Media’s Defence 2014 report examines South Africa’s defence industry, with particular focus on the key participants in the sector, the innovations that have come out of the sector, local and export demand, South Africa’s controversial multibillion-rand...
Road and Rail 2014: A review of South Africa's road and rail infrastructure (PDF report)
Creamer Media’s Road and Rail 2014 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail network, the funding and maintenance of these respective networks, and the push to move road...
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
Real Economy Insight: Construction 2014 (PDF Report)
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
Real Economy Insight: Electricity 2014 (PDF Report)
This five-page brief covers key developments in the electricity industry over the past 12 months, including details of State-owned power utility Eskom’s generation activities, funding and tariffs, independent power producers and prospects for the sector.
 
 
 
 
 
This Week's Magazine
The broad-based black economic-empowerment (BBBEE) alignment process in the con-struction sector has begun, dur-ing which the sector codes of the Construction Sector Charter Council (CSCC) will be aligned with the revised Codes of Good Practice (CoGP), which come...
It is second time lucky for Toby Venter. Ten years ago he negotiated to buy the Kyalami racetrack, but “the deal did not materialise”.
Environmental solutions company I-Cat started construction work on its R22-million, 1 949 m2 environmentally sustainable office and warehouse facility, commissioned by I-CAT Environmental Solutions, at a launch event in October. The new sustainable I-CAT campus,...
IAN EVANS AirWatch file synchronisation and sharing system was initially designed for a large airline company
Effective file synchronisation and sharing across an organisation’s structures can provide the basis for robust mobile-device and document management while maintaining proper backup, version control and content distribution. These are the lessons learned by complex...
Hotel group Carlson Rezidor currently holds the largest hotel pipeline in Africa with 30 hotels and 6 300 rooms under development. The hotel group develops and operates Radisson Blu in the upper upscale segment and Park Inn by Radisson in the mid-market segment. With...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks