Mar 15, 2010
Daily podcast – March 15, 2010Back
Johannesburg|Airbus|Eskom|Eskom World Bank|Public Enterprises|SEW Eurodrive|South Africa|United States|Zambia|USD|ZAR|Medupi|MW Power Plant|Drive Technology|Finance Package|Barbara Hogan|Murray|Pravin Gordhan|Limpopo|Drive Technology
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Monday, March 15, 2010.
From Creamer Media in Johannesburg, I'm Shannon de Ryhove.
Making headlines today:
Public Enterprises Minister Barbara Hogan says that the US government has reportedly indicated to the South African government that it would abstain from the Eskom World Bank loan vote in early April. The vote is expected to take place on either April 7 or 8, 2010.
The US had initially objected to the 3,75-billion-dollar finance package, owing to the fact that some of the capital would go to the 120-billion-rand Medupi coal-fired power station. The US said that this could conflict with the World Bank's climate-change policy guidelines.
The decision to abstain appeared to open the way for the loan, while demonstrating the perceived responsiveness of the US to South African, international and US environmental pressure groups, which oppose the loan.
Serious questions have been raised about whether or not the project remains on schedule ever since engineering contractor Murray & Roberts indicated that it had been experiencing significant scope changes and delays with its boiler and the civil contracts at Medupi.
The 4 800-MW power plant is being built as a cost of about 120-billion-rand at a site in Limpopo province.
South Africa is still waiting for a 2,9-billion-rand repayment from European planemaker Airbus, which hasn't acknowledged a cancelled deal.
That's a round up of news making headlines today.
Edited by: Shannon de Ryhove© Reuse this Comment Guidelines
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