Thursday, June 25, 2009.
From Creamer Media in Johannesburg, I'm Shannon O'Donnell.
Making headlines today:
Transnet acting CEO Chris Wells said that the South African transport utility was currently preparing the necessary documentation and fulfilling the legal requirements for a 5-billion-rand global bond issue.
However, he has provided no details as to the timing of such an issuance. He said that the group intended to enter the European and North American markets as soon as the net costs of raising foreign-market bonds became attractive again.
The State-owned enterprise had already established a domestic medium-term note programme, which it was currently tapping at a rate of 1-billion-rand a month and which would remain the "backbone" of its funding strategy.
Transnet acting-CEO Chris Wells:
Global consumer research firm JD Power and Associates has named Mercedes-Benz South Africa 's East London plant as the fifth best vehicle production site in the world.
MBSA manufacturing executive director Joachim Follmann says the Eastern Cape plant has clinched a gold award in the annual influential JD Power awards.
The plant is the only one in the Africa, Middle East and European region to win a gold award. The number one to four plants in the world are all located in the Asia Pacific region.
This is the first time that a gold award has been made in this category to a South African plant.
Also making headlines:
South Africa's Water and Environmental Affairs Minister Buyelwa Sonjica says that South Africa will spend 30-billion-rand on water-infrastructure projects.
Transnet won't seek direct funding from the State for its 12,6-billion-rand pipeline.
Piracy delays the Seacom undersea cable by almost a month.
And, MTN denies a report that it's Iran network is blocked.
That's a round up of news making headlines today. For more on these and other stories please visit engineeringnews.co.za.