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Monday, April 12, 2010.

From Creamer Media in Johannesburg, I'm Shannon de Ryhove.

Making headlines today:

The ANC's investment firm Chancellor House is planning to sell its 25% stake in Hitachi Power. Hitachi won a contract to supply boilers to power utility Eskom's two new coal-fired power stations.

ANC Treasurer Mathews Phosa said that the ANC was planning to exit within the next six weeks, however he emphasised that no one must hold them to six weeks because they don't know what could happen in a commercial transaction.

Chancellor House is owned by a Trust with no beneficiaries.

The business plan for the East London industrial development zone's proposed new multi-vehicle assembly plant should be completed by the end of April.

The project aims to provide newcomer vehicle brands and brands selling low volumes "with a soft landing" in South Africa's manufacturing industry.

The multi-vehicle plant could see participating brands qualify for incentives under the government's new Automotive Production and Development Programme, which aims to incentivise plant production of 50 000 units a year or more, as from 2013.

Also making headlines:

The second Airbus A400M makes its maiden flight.
Eskom appoints JP Morgan on its funding plan and Credit Suisse on its Kusile sale.
Southern and East Africa renewable projects get a 10-million-Euro boost.
And, Germany dedicates 75-million-Euro to develop renewable energy and energy generation in South Africa.

That's a round up of news making headlines today.