Mar 10, 2010
Daily podcast – March 10, 2010Back
DURBAN|Gauteng|Johannesburg|SECURITY|Africa|Nuclear|PROJECT|Projects|Resources|Security|SEW Eurodrive|SEW-Eurodrive|Transnet|Africa|Namibia|South Africa|ZAR|Security|Debt Finance|Drive Technology|Energy|Nuclear|Security|Transport|Anne O'Donnell|Chris Wells|Dominique Strauss-Kahn|Neville Eve|Power|Security|Drive Technology
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Wednesday, March 10, 2010.
From Creamer Media in Johannesburg, I'm Mary-Anne O'Donnell.
Making headlines today:
State-owned transport utility Transnet has confirmed that the cost of its new multiproduct petroleum pipeline (NMPP) from Durban to Gauteng has escalated by 2,75-billion-rand to 15,42-billion-rand. It also reports that the project will be completed a full year later than initially scheduled.
The new NMPP network was initially expected to cost 12,67-billion-rand, and will now only be completed by December 20, 2012, instead of December 20, 2011.
Transnet Capital Projects head Neville Eve said that the cost escalations and schedule slippages were a function of the fact that the project had proceeded while still in prefeasibility stage in the interests of guaranteeing inland security of supply.
CEO Chris Wells said that the higher costs would be financed through a combination of internally generated resources and debt finance, noting that the company currently had 7-billion-rand cash on hand.
Local union federation Cosatu, an ally of the ruling ANC, has called on the central bank to widen its inflation targeting mandate and wants a much weaker rand to help boost local industries and create jobs.
Strauss-Kahn said any policy measures that led to a weakening of the rand would scare off the foreign investors and capital that are needed to fund the country's current account deficit.
The rand gained about 30% against the dollar in 2009 and is considered relatively strong at its current levels of around 7-rand-40 to the dollar.
Also making headlines:
Namibia plans to adopt nuclear power as a source of energy over the next 15 to 20 years.
That's a round up of news making headlines today
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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
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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
JSE-listed real estate investment trust (REIT) Rebosis Property Fund achieved a distribution growth of 8.1% to 99.45c per linked unit in the financial year ended August 31, despite volatile market conditions.
A low-cost, inflatable incubator won this year’s international James Dyson design award, which aims to encourage and inspire the next generation of design engineers.
The World Bank released its ‘Doing Business 2015: Going Beyond Efficiency’ report last month and ranked South Africa 43 out of 189 global economies for its ease of doing business, with Singapore topping the rankings.
Air Products South Africa officially launched its R300-million Eastern Cape air- separation unit (ASU), at its new manufacturing facility in the Coega Industrial Development Zone (IDZ), earlier this month. It is the second facility that Air Products launched in South...
BMW South Africa (SA) has signed a power purchasing agreement with energy company Bio2Watt. The offtake partnership will bring renewable energy to the carmaker’s Rosslyn plant, north of Pretoria.