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|Building|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 medication....
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
Defence 2014: A review of South Africa's defence industry (PDF Report)
Creamer Media’s Defence 2014 report examines South Africa’s defence industry, with particular focus on the key participants in the sector, the innovations that have come out of the sector, local and export demand, South Africa’s controversial multibillion-rand...
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 road...
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.
This Week's Magazine
The broad-based black economic-empowerment (BBBEE) alignment process in the con-struction sector has begun, dur-ing which the sector codes of the Construction Sector Charter Council (CSCC) will be aligned with the revised Codes of Good Practice (CoGP), which come...
It is second time lucky for Toby Venter. Ten years ago he negotiated to buy the Kyalami racetrack, but “the deal did not materialise”.
Environmental solutions company I-Cat started construction work on its R22-million, 1 949 m2 environmentally sustainable office and warehouse facility, commissioned by I-CAT Environmental Solutions, at a launch event in October. The new sustainable I-CAT campus,...
Effective file synchronisation and sharing across an organisation’s structures can provide the basis for robust mobile-device and document management while maintaining proper backup, version control and content distribution. These are the lessons learned by complex...
Hotel group Carlson Rezidor currently holds the largest hotel pipeline in Africa with 30 hotels and 6 300 rooms under development. The hotel group develops and operates Radisson Blu in the upper upscale segment and Park Inn by Radisson in the mid-market segment. With...