http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.93Change: 0.00
R/$ = 12.70Change: -0.04
Au 1095.99 $/ozChange: 0.81
Pt 983.00 $/ozChange: 1.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Letters Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Aug 27, 2012

Key manufacturing incentive deadline draws near

Back
Components|Cova Advisory|Cova Advisory & Associates|Industrial|MCEP|Green Technology|Manufacturing|Duane Newman|Green Technology
Components|Cova Advisory|Industrial|MCEP|Manufacturing||
components|cova-advisory|cova-advisory-associates|industrial|mcep|green-technology|manufacturing|duane-newman|green-technology-technology
© Reuse this



Friday August 31 is a key deadline for potential beneficiaries of government’s R5.8-billion Manufacturing Competitiveness Enhancement Programme (MCEP) to submit their applications.

The incentive scheme, which was unveiled in the February Budget, was officially launched in May and the Department of Trade and Industry (DTI) began accepting applications from June 4.

The objective of the incentive is to promote enterprise competitiveness and job retention through a ‘production incentive’ and ‘industrial financing loan facilities’, both of which have various subcomponents.

Under the scheme, investments are generally only considered if applicants complete their submissions at least 60 calendar days prior to commencement, or commercial use, of the qualifying assets.

But the DTI has moved to accommodate capital investments and green technology upgrading initiatives that began producing between May 30, 2012 and July 30, 2012 – both components fall under transitional provisions established for the production incentive aspect of the scheme.

In these instances, the 60-day rule has been waived, but applicants need to make their submission before the end of the month, as from September 1, the MCEP will revert to its normal timeline for submission.

Cova Advisory & Associates MD Duane Newman says it is “crucial that companies review their costs incurred between May 30 and July 30 to see if they could qualify for the incentive”.

Through the capital investment component, the incentive offers a cost-sharing grant of between 30% and 50% of the investment value, up to a maximum of R50-million.

Under the green technology and resource efficiency incentive a cost-sharing grant of between 30% and 50% of the investment is available, payable on production up to a maximum of R50-million.

Newman suggests that those companies that believe they stand a chance of qualifying should either contact the DTI directly, or contact a consultant associated with the Incentives Consultants Association.

Edited by: Creamer Media Reporter
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
Other Construction News
Embattled South African steel producer ArcelorMittal South Africa (AMSA) has offered insight into the “fair pricing model” it has tabled before government in return for tariff protection and a government stipulation that locally manufactured steel be designated for...
Dangote Cement revised its 2015 spending plans to $1-billion from the $700-million estimated nine months ago after it commissioned two new African plants this June, Nigeria's biggest listed company said on Friday. The company, majority owned by billionaire Aliko...
JSE-listed Accelerate Property Fund has raised R500-million in an accelerated bookbuild, through the placing of 76.5-million new shares at R6.53 apiece. The proceeds would be used to reduce a portion of the company’s acquisition debt, including for the acquisition of...
More
 
 
Latest News
Transport Minister Dipuo Peters
Updated 41 minutes ago Transport Minister Dipuo Peters has asked the auditor general’s (AG) office to conduct a forensic investigation into allegations of financial mismanagement at the Passenger Rail Agency of South Africa (PRASA). Peters has commissioned the AG’s office – a Chapter Nine...
Embattled South African steel producer ArcelorMittal South Africa (AMSA) has offered insight into the “fair pricing model” it has tabled before government in return for tariff protection and a government stipulation that locally manufactured steel be designated for...
Telecommunications group Telkom on Friday said it had posted a 1.7% uptick in net revenue for the three months to June 30, on the back of a strong performance by mobile on data revenue and higher fixed-line subscription revenue. Mobile net revenue for the first three...
More
 
 
Recent Research Reports
Real Economy Year Book 2015 (PDF Report)
There are very few beacons of hope on South Africa’s economic horizon. Economic growth is weak, unemployment is rising, electricity supply is insufficient to meet demand and/or spur growth, with poor prospects for many of the commodities mined and exported. However,...
Real Economy Insight: Automotive 2015 (PDF Report)
Creamer Media’s Real Economy Year Book comprises separate reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, gold, iron-ore and platinum sectors.
Real Economy Insight: Water 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
Real Economy Insight: Construction 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
Real Economy Insight: Electricity 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
Real Economy Insight: Road and Rail 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
 
 
 
 
 
This Week's Magazine
Daimler truck test engineer Dirk Stranz pushes one button, and then retracts his hands from the steering wheel of the Mercedes-Benz Future Truck 2025. “And now the truck is driving itself.”
The statutory body responsible for skills development and support in the banking sector, BANKSETA, was investing R68-million in the capacity building project of the University of Venda (UniVen), announced Bankseta company secretary Caroline King at a media event in...
LIONEL MOYAL Cloud services providers must compete against other cloud services providers for business by providing up-to-date systems and services
Legacy information technology (IT) systems are becoming increasingly obsolete because of the maturity, efficiencies and cost effectiveness of cloud-based IT services, says information and communication technology major T-Systems subsidiary Intervate head Lionel...
ARMANDÉ KRUGER Balancing the collection and processing of data must be aligned to strategy
Many complementary services enable companies to derive broad value from data inside and outside them. The complexity of data management means that companies’ strategies determine the various data systems and functions they will use, says PBT Group regional sales...
The South African Civil Aviation Authority (SACAA) has announced that it had awarded the country’s first remotely piloted aircraft systems (RPAS) pilot’s licence. It was issued on Friday, July 10, to SACAA employee and qualified commercial pilot Nicole Swart,...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks
Subscribe Now for $96 Close
Subscribe Now for $96