http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.40Change: 0.09
R/$ = 11.98Change: 0.08
Au 1193.20 $/ozChange: 3.78
Pt 1145.50 $/ozChange: -5.00
 
 
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 Letters Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Apr 05, 2004

Boschendal: upliftment vision fortifies development plan

Back
Construction|Expertise|Africa|Africa
Construction|Expertise|Africa|Africa
construction|expertise|africa-company|africa
© Reuse this Some of South Africa’s poorest are to share in the most expensive real estate in South Africa, a R3,8-billion residential development at Boschendal in the Western Cape.

The wine estate’s new owners, a consortium of Luxembourg-registered company Citation Holdings SA, which has acquired 70%, and Kovacs Investments 608, a broad-based empowerment group, which has acquired 30%, have grand designs for the 300-year-old wine estate, which is nestled equidistantly between Stellenbosch, Franschhoek and Paarl.

In addition to the construction of the residential estate, which will include 20 founders’ estates, a number of low-impact homesteads, a retirement village and a boutique hotel, Boschendal plans to produce a pinnacle wine to compete with the world’s best, gradually increase its percentage of red wine sales and grow its exports.

Striking the largest wine-related empowerment deal in the country means that 550 previously- disadvantaged people will share in any profits.

Kovacs Investments is chaired by former-ANC-leader-of-the-Western-Cape-turned-businessman Chris Nissen.

Its shareholders are Ituseng Strategic Investments (30%), New Line Investments (35%), Umoya Holdings (10%) Ikamva Investment Holdings (15%), Jacques van der Heyde (5%), and two women’s groups, Khomelela and Dyambu, which hold the remaining 5%.

“It is still early days, but we are committed to being a market leader in black economic empowerment (BEE),” says Boschendal’s new CEO, Clive Venning.

“One of the reasons that Nissen is the chairman of the holding company is because of his considerable experience and expertise in facilitating partnerships that promote BEE and empowerment,” he says.

The consortium bought the assets of the 2 240 ha Boschendal estate from Anglo American Farms (Amfarms) last year for R323-million and took over its existing 220 employees, including cellar master JC Bekker and viticulturist Spekkies van Breda.

The entire wine business, restaurants and tourism elements will be headed up by the new MD of Boschendal Wines, Franco Barocas.

“The effective date of the transaction was November 1 and the transfer took place on March 9,” says Venning, whose other major developments in the last 15 years have included Pezula Private Estate, Sparrebosch Golf course and hotel, in Knysna, and Sun River/Borrowdale Brooke Country Club, in Zimbabwe.

In the first phase of the transaction the consortium has bought 917 ha, which is primarily the wine operation and includes all 11 dams on the estate; the red and white wineries with a combined capacity of 300 000 cases or 3,6-million bottles; restaurants Le Caf
Edited by: Jill Stanford
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
Other Civil Engineering and Construction News
NICK FASSEN The Bargaining Council for the Civil Engineering Industry wants to create fair and equal opportunities for all stakeholders
All necessary processes are in place to begin this year’s wage negotiations for the civil engineering industry, says Bargaining Council for the Civil Engineering Industry (BCCEI) general secretary Nick Faasen. He tells Engineering News that the deadline for the...
BAYWEST MALL By the end of 2014, Baywest Mall’s 65 000 m² roof, as well as a bridge over the N2 highway, had been completed
The construction of the R1.7-billion Baywest Mall in Port Elizabeth has resulted in the employment of about 4 300 workers on site since construction started in mid-2013, which is a 43.3% increase on the 3 000 direct jobs that developers had initially forecast for the...
NETCARE PINEHAVEN HOSPITAL Construction of the 100-bed hospital started in August 2014
The construction of a R199-million, 100-bed hospital for healthcare provider Netcare Properties, in Pinehaven, Johannesburg, is well under way, says South Africa-based construction company Aveng Grinaker-LTA. Aveng Greinaker-LTA building business unit MD Marc Meire ...
More
 
 
Latest News
Western Cape Minister of Economic Opportunities Alan Winde
Updated 5 hours ago The new systems showcased by the Western Cape Department of Agriculture on Tuesday were expected to provide a gateway for industry and policy-makers in the Western Cape to the latest intelligence from the sector and served as an important decision-making tool. The...
Updated 6 hours ago JSE-listed Quantum Foods expects that its earnings per share (EPS) for the six months to March 31 will increase between 556% and 576% in relation to the previous corresponding period, lifting its forecast for the period. The company reported on Tuesday that this...
Updated 6 hours ago Acknowledging the shortage of access points to connect renewable-energy projects developed under government’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) to the national grid, Eskom system operator Bernard Magoro on Wednesday...
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