Jul 21, 2008
Daily podcast – July 21, 2008Back
Construction|Engineering|Gold|Johannesburg|Africa|AfriSam Consortium|And|Ausenco|Bateman|Camec|Cement|CoAL|Copper|Eskom|Fire|Nissan|Platinum|PROJECT|Public Enterprises|Public Investment Corporation|Reliance Communications|Renault|Transformer|Africa|Mozambique|South Africa|Zambia|Zimbabwe|ZAR|Cement Producer|Construction Contractor|Equipment|Insurance Loss Adjusters|Alec Erwin|Mercedes Benz|Mofasi Lekota|Power|Robert Mugabe|Trevor Manuel|Transformer
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From Creamer Media in Johannesburg, I'm Shannon O'Donnell.
Making headlines today:
South Africa's National Treasury unveiled the much-anticipated details of its 60-billion rand capital injection into embattled State power utility Eskom on Friday, confirming earlier reports by Engineering News Online that the transfer would be ‘front loaded'.
Further, Finance Minister Trevor Manuel hinted to possible additional support beyond the initial loans, which was also in line with a statement made last Thursday by Public Enterprises Minister Alec Erwin.
"In addition to the deeply subordinated loan, government will consider providing guarantees to enable Eskom to access funding otherwise not available," National Treasury said in a statement.
AfriSam deputy chairperson Mofasi Lekota said that the AfriSam Consortium, which bought 85% of the cement producer for 16,4-billion rand last year, had spoken to a number of local and international financiers, but the PIC had been the most supportive.
Of the 6-billion rand that the State-owned investor was injecting into AfriSam, 4,3-billion rand would earn it a 20% stake in the company, while the rest was in the form of a loan, the terms of which Lekota said had not yet been finalised.
Repair work has begun at Equinox Minerals' Lumwana copper project, in Zambia, after a fire on July 7 damaged a 20-MVA transformer and adjacent 11-kV substation at the process plant facility.
The first concentrate was originally scheduled to be produced this month at Lumwana, but the company now expects that the engineering, procurement and construction contractor, a joint venture between Bateman and Ausenco, will only have the project ready for hand over in December, Equinox said on Friday.
Assessments had been conducted by independent experts, insurance loss adjusters and engineers from the Ausenco Bateman JV, to identify equipment that would require replacement, and the ordering of the necessary replacement items had begun.
Renault-Nissan alliance invests 1-billion rand in South Africa
In political news:
Robert Mugabe threatens to seize foreign firms over sanctions
Edited by: Shannon de Ryhove© Reuse this Comment Guidelines (150 word limit)
Other Intellectual Property Law News
Pharmaceutical companies typically invest substantial amounts of money into research and development. Their research, however, is not only aimed at discovering new active pharmaceutical ingredients (APIs). Instead, some companies make small modifications to existing...
A controversial patent process known as ‘ever-greening’ is being carried out by many pharmaceutical brands, and is preventing medications from being made available as generics, affecting many South Africans who are struggling to keep up with the cost of...
It has been over six years since the government began developing the draft policy on intellectual property (IP) that has been the focus of major public controversy following the PharmaGate scandal, which involved a leaked pharmaceutical industry email by Knowledge...
Recent Research Reports
Road and Rail 2014: A review of South Africa's road and rail infrastructure (PDF report)
Creamer Media’s Road and Rail 2014 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail network, the funding and maintenance of these respective networks, and the push to move...
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
Real Economy Insight: Construction 2014 (PDF Report)
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
Real Economy Insight: Electricity 2014 (PDF Report)
This five-page brief covers key developments in the electricity industry over the past 12 months, including details of State-owned power utility Eskom’s generation activities, funding and tariffs, independent power producers and prospects for the sector.
Real Economy Insight: Road and Rail 2014 (PDF Report)
This six-page brief covers key developments in the road and rail industries over the past 12 months, including details of South Africa’s road and rail network and prospects for both sectors.
This Week's Magazine
South African State-owned defence industrial group Denel has announced its fourth consecutive year of profits. The group's results for the financial year 2013/2014 were recently announced at its head office in Centurion, south of Pretoria. Revenues grew by 17%, net...
There is little opportunity for JSE-listed infrastructure company Group Five to grow shareholder value in the domestic market, says CEO Mike Upton. He says value can still be found in the private sector, in the renewable and industrial power sector, as well as in...
The National Association of Automobile Manufacturers of South Africa (Naamsa) has announced the event dates of the 2015 Johannesburg International Motor Show (JIMS). The event will take place from October 14 to October 25, 2015, at the Johannesburg Expo Centre, Nasrec.
UK engineering support services provider Babcock is set to deliver the largest order of global truck manufacturer DAF’s truck tractors in Southern Africa to bulk carrier road-based logistics company Ngululu Bulk Carriers (NBC), with 133 trucks to be delivered in...
Digital radio communications in the African local government space can open up the world, but have many challenges to overcome, notes integration and migration of legacy radio communications infrastructure with digital mobile radio company Emcom Wireless head of...