Engineering company Lesedi Nuclear Services, a subsidiary of Areva, has introduced Group Five and J&J Group as new shareholders, cofounder and CEO Francis Carruthers announced on Monday.
Areva would retain control of the nuclear side of the business despite the restructured shareholding.
The introduction of new shareholders, following the retirement of one of the cofounders, Eric McDonald, would expand Lesedi’s African capacity and competence, Carruthers stated.
“This process is also set to secure our future as a significant South African player in the nuclear and non-nuclear sectors. Our partnership with Areva, who remains a major shareholder, has played an important role in developing our sustainable but dynamic organisation. Together with our new partners, we are now well positioned to continue supporting Eskom in all of its future developments, armed with enhanced levels of local content in our delivery,” he added.
Group Five’s executive director for engineering and construction, Willie Zeelie said that it had been the company’s aim for a number of years to grow capacity and enter the nuclear energy space. “This new partnership is our first step in this direction.”
J&J Group chief investment officer David Johnson said that the company was excited about the contribution that it would make to grow skills in the nuclear and non-nuclear energy sectors. “In the end, this partnership will be a win-win situation for all involved, including our country.”
Lesedi has grown organically over the last five years from its core focus of localising Areva’s activities of plant upgrades and refueling outage services at Koeberg nuclear power station, to constructing Eskom’s new power plants, 14 gas turbines at Gourikwa and Ankerlig power stations and current engineering, procurement and construction for the balance of plant at Medupi and Kusile power stations.