May 20, 2009
Daily podcast – May 20, 2009Back
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Wednesday, May 20, 2009.
From Creamer Media in Johannesburg, I'm Shannon O'Donnell.
Making headlines today:
Energy and chemicals group Sasol has announced that it's agreed to an even heftier fine of more than 250-million-rand to settle competition breaches involving its fertiliser unit. This is in line with an amended agreement reached with the Competition Commission.
Earlier, a fine of 188-million-rand had been agreed. But additional information was reportedly uncovered last week, showing contraventions that had not previously been disclosed.
Sasol said that the further breaches had emerged during the course of an ongoing investigation within its fertiliser and phosphoric acid businesses. This had included repeat interviews with employees and ex-employees.
Sasol explained that the information changed the commission's view of the nature and seriousness of one of the matters covered by the settlement agreement. It was subsequently agreed that the settlement and the administrative penalty be amended to reflect the new information.
PetroSA's vice-president of new midstream ventures, Jorn Falbe, said a feasibility study for the refinery at Coega was due to be completed by August. Coega is an industrial zone on South Africa's south-east coast.
Backed by the government, the Coega refinery is expected to ease the country's dependence on fuel imports.
The head of an independent energy institute says that South Africa should raise power tariffs over time to boost energy supply and attract investors.
That's a round up of news making headlines today. For more on these and other stories please visit engineeringnews.co.za.
Edited by: Shannon de Ryhove© Reuse this Comment Guidelines (150 word limit)
Creamer Media Senior Deputy Editor Polity & Multimedia
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