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Tuesday, November 17, 2009.

From Creamer Media in Johannesburg, I'm Shannon de Ryhove.

Making headlines today:

Human Settlements Minister Tokyo Sexwale says it will cost South Africa 1,3-billion-rand, or 10% of this year's budget, to rectify badly built reconstruction and development programme houses. He says that this is a national shame.

He says that this is money down the drain, which should have been spent on new houses. Sexwale also outlined further details of the Department of Human Settlements' National Audit Task Team, which would undertake an audit of housing delivery.

The department launched the audit in early November, at which time Sexwale reported that up to 800-million-rand was being spent to rectify badly constructed houses in the North West province and in KwaZulu-Natal.

Egypt's largest steelmaker says that steel demand in the Middle East and North Africa (MENA) region will rise by 7 percent next year to around 60 million tons on the back of robust construction spending.

MENA countries include Iran, Saudi Arabia, United Arab Emirates, Egypt and Algeria.

Ezz Steel marketing director, George Matta, says that he expects the region's consumption to fall by a slight 2 percent this year to 55,9-million tons.

He says that construction activity is likely to be supported by government spending.

Matta says that steel consumption of oil exporting countries was hardly hit by volatile oil prices.

Also making headlines:

The International Monetary Fund chief says that a more stable global currency is needed.
Former Eskom chairperson Bobby Godsell decides not to rejoin the cash-strapped utility.
Barloworld pursues power projects in Angola and Mozambique.
And, Murray & Roberts sees significant work for its new project-focused unit.

That's a round up of news making headlines today. For more on these and other stories please visit engineeringnews.co.za.