This podcast is brought to you by Ukwazi - Bringing relevant mining engineering consultancy services to dynamic industry.

Thursday, February 12, 2009.

From Creamer Media in Johannesburg, I'm Shannon O'Donnell.

Making headlines today:

On Wednesday, Finance Minister Trevor Manuel said in his Budget speech that Government spending on infrastructure would total 787-billion-rand over the next three years. 390-billion-rand of this was capital spending by State-owned enterprises.

Manuel announced that this year's Budget would add a further 6,4-billion-rand for public transport, roads and rail networks, 4,1-billion-rand for school buildings, clinics and other provincial infrastructure projects, and 5,3-billion-rand for municipal infrastructure and bulk water systems.

Manuel said that the national Budget contributed to the financing of some of government's infrastructure investments. He said that there was also a role to play for the country's development finance institutions in supporting State-owned enterprises, municipalities and private companies to raise the finance required for major capital projects.

Meanwhile, on Thursday, Manuel reiterated that South Africa's economy was not in recession. But he did say that growth numbers for the last quarter of 2008, as well as the first quarter of this year, would give more pointers.

Manuel said that 2008 GDP growth estimates were lower at 3,1% and said that domestic output would continue to expand this year although at a much smaller 1,2%. This was despite a recession in major economies.

He said that although it sometimes felt in people's minds that the economy was in recession ... as of now the country is looking at positive growth.

Also making headlines:

A project by Canada's CIC Energy to build the first power station at the Mmamabula coal field in Botswana is on schedule to start operating by early 2013.
South Africa's petroleum agency will entertain bids for new offshore acreage.
There's no direct bail-out on the cards for the automotive industry in this year's Budget.
And, South Africa's fuel tax will increase sharply.

That's a round up of news making headlines today. For more on these and other stories please visit engineeringnews.co.za.