http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.54Change: -0.21
R/$ = 12.08Change: -0.17
Au 1182.09 $/ozChange: 0.44
Pt 1141.00 $/ozChange: 4.50
 
 
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 Letters 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|Africa|Building|Concrete|Africa|Steel|Infrastructure
Construction|Africa|Building|Concrete|Africa|Steel|Infrastructure
construction|africa-company|building|concrete|africa|steel|infrastructure
© 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)
 
 
 
 
 
 
 
 
 
Latest News
Tesla Motors CEO Elon Musk.
Clean energy leader Tesla Motors on Thursday night launched a new range of batteries that could power homes and commercial buildings at a fraction of the expected cost, highlighting the growing demand for the minerals such a s graphite, cobalt and lithium required to...
Eskom said load-shedding should not be needed this weekend. According to the bi-weekly System Status Bulletin‚ released on Thursday‚ the power utility “will once again embark on a massive plant maintenance drive this long-weekend in an effort to improve the...
With just hours to go before the Broad Based Black Economic Empowerment (B-BBEE) Amended Codes of Good Practice come into law on 1 May‚ the Department of Trade and Industry (DTI) had still not clarified several important points - including the draft Qualifying Small...
More
 
 
Recent Research Reports
Steel 2015: A review of South Africa's steel sector (PDF Report)
Creamer Media’s Steel 2015 report provides an overview of the key developments in the global steel industry and particularly of South Africa’s steel sector over the past year, including details of production and consumption, as well as the country's primary carbon...
Projects in Progress 2015 - First Edition (PDF Report)
In fact, this edition of Creamer Media’s Projects in Progress 2015 supplement tracks developments taking place under the Renewable Energy Independent Power Producer Procurement Programme, which has had four bidding rounds. It appears to remain a shining light on the...
Electricity 2015: A review of South Africa's electricity sector (PDF Report)
Creamer Media’s Electricity 2015 report provides an overview of State-owned power utility Eskom and independent power producers, as well as electricity planning, transmission, distribution and the theft thereof, besides other issues.
Construction 2015: A review of South Africa’s construction sector (PDF Report)
Creamer Media’s Construction 2015 Report examines South Africa’s construction industry over the past 12 months. The report provides insight into the business environment; the key participants in the sector; local construction demand; geographic diversification;...
Liquid Fuels 2014 - A review of South Africa's Liquid Fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2014 Report examines these issues, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing, competition in the sector, the...
Water 2014: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2014 report considers the aforementioned issues, not only in the South African context, but also in the African and global context, and examines the issues of water and sanitation, water quality and the demand for water, among others.
 
 
 
 
 
This Week's Magazine
Mercedes-Benz will launch ten plug-in hybrid models by 2017, says the German automaker’s parent company, Daimler. Following the launch of the S 500 plug-in hybrid, March saw the introduction of the C 350 e, the second model to feature the drive-train concept. Under...
Energy Minister Tina Joemat-Pettersson's recent unveiling of something of a road map for an upscaled and accelerated deployment of independent power producer (IPP) capacity has been widely welcomed. Besides plans to accelerate and expand the hitherto successful...
South African Airways (SAA) acting CEO Nico Bezuidenhout has firmly denied reports that a stake in the airline was going to be sold to Air China. “Categorically, SAA is not in any talks with any airline to sell itself at the moment,” he stated at a media briefing at...
Russian State-owned nuclear group Rosatom has confirmed that it is in talks with Nigeria about the construction of nuclear power plants (NPPs) in that country, but has denied that any agreement has been signed. This follows a recent report in the Nigerian media that...
HANDIGAS LPG LPG users can order products at the Afrox website or through the Afrox call centre and receive next-day delivery
Gas products and services company Afrox has launched a pilot programme to deliver its range of Handigas liquefied petroleum gas (LPG) to domestic consumers to fill a gap in the market, thereby expanding its direct contact with end-users.
 
 
 
 
 
 
 
 
 
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
Subscribe Now for $96 Close
Subscribe Now for $96