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Tuesday, July 14, 2009.

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

Making headlines today:

South Africa's Minister in The Presidency, Trevor Manuel, said on Tuesday that the South African Constitution ultimately set the mandate for the South African Reserve Bank to maintain price stability and this objective couldn't be abandoned simply because it was difficult to achieve.

Manuel said that this constitutional "imperative" was not a "nice to have", and had been pursued domestically through inflation targeting, which he argued had been applied in a reasonable and flexible manner by the central bank.

Despite inflation remaining outside the target range of 3 to 6%, the bank had been careful not to pursue the target in a way that would deepen the recession.

He said that he was "satisfied" that the bank had demonstrated a "reasonable mind and a fair amount of flexibility".

Contractors were expected to start on the bulk earthworks of the Landside Phase 1 development at the Centurion Aerospace Village, or CAV, by early September.

Consulting engineers PD Naidoo and Associates and quantity surveying consultancy Crane Quantity Surveyors have invited joint venture companies to tender for the bulk earthworks project.

The CAV, which is an initiative of the Department of Trade and Industry, was launched in August last year to give small companies the opportunity to be in close proximity to the larger local suppliers, such as Denel and Aerosud, and would help to create an aero-structure supply chain that would be focused on manufacturing.

It formed part of the Aerospace Industry Support Initiative, which aimed to reposition the country's aerospace industry as a future growth industry.

Also making headlines:

European heavyweights throw their weight behind the 400-billion-Euro desert-energy venture.
A 3 200-MW power station is planned for the Coega Industrial Development Zone.
The Industrial Development Corporation will study funding models for clean-energy projects.
And, South African steel producer Highveld Steel & Vanadium will also raise some steel prices in August.

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