http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 14.15Change: -0.02
R/$ = 10.52Change: -0.02
Au 1304.65 $/ozChange: 0.45
Pt 1481.50 $/ozChange: 0.00
 
 
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 Suppliers Directory Research Jobs Announcements Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Sep 05, 2008

M&R sees growth prospects in energy, particularly nuclear

Back
Cape Town|Construction|Engineering|Gold|Johannesburg|Africa|Clough|Components|Energy|Eskom|Flow|Gas|Murray & Roberts|Nuclear|PROJECT|Safety|Systems|Africa|Australia|South Africa|AUD|USD|Energy|Flow|Nuclear Energy|Nuclear Energy Arena|Nuclear Energy Sector|Oil And Gas|Systems|Brian Bruce|Bruce|Fabrication|Infrastructure|Power|Middle East
Construction|Engineering|Gold||Africa|Components|Energy|Eskom|Flow|Gas|Nuclear|PROJECT|Safety|Systems|Africa|||Energy|Flow|Oil And Gas|Systems|Fabrication|Infrastructure|Power|
cape-town|construction|engineering|gold|johannesburg|africa-company|clough|components|energy-company|eskom|flow-company|gas-company|murray-roberts|nuclear-company|project|safety|systems-company|africa|australia-country|south-africa|aud|usd|energy|flow-industry-term|nuclear-energy|nuclear-energy-arena|nuclear-energy-sector|oil-and-gas|systems|brian-bruce|bruce|fabrication|infrastructure|power|middle-east
© Reuse this Energy was a driver of opportunity for construction and engineering group Murray & Roberts (M&R), CEO Brian Bruce commented at a results presentation held in Johannesburg last week.



Nuclear energy, in particular, would be a focus area for the group going forward, as nuclear was expected to become a primary source of power in South Africa and in the rest of the world.

Bruce noted that it was expected that a number of new nuclear plants would be constructed globally over the next 50 years, with South Africa expected to be one of the largest users of nuclear energy in future.

The group, working in a joint venture (JV) with TSX-listed SNC-Lavalin, was already participating in the nuclear energy sector.

Last month, the JV was awarded the engineering, procurement and construction management contract for the pebble-bed modular reactor demonstration plant project at Koeberg, near Cape Town.

Further, Bruce expected State-owned power utility Eskom’s Nuclear 1 project to further benefit the group if it was “able to secure that project”.

Bruce explained that M&R would, from a contractor point of view, not participate in the international nuclear energy arena in the short term, with the “key issue” being South Africa’s energy requirements.

However, he noted, “the indigenisation of capacity around manufacturing would ultimately generate an export market”.

Bruce added that the South African Power Initiative and the Competitive Supplier Develop-ment Programme, aimed at the indigenisation of the fabrication and manufacture of key systems and components for the energy sector, were a further opportunity for growth.

Meanwhile, the group was also continuing to work on thermal energy power plants in South Africa, such as the Medupi and Kusile power plants.

Investment in commercially orientated infrastructure and energy systems in the Middle East was being driven by free cash flow from oil and gas revenues. This was another opportune market for M&R.

Further, the company held a 56% stake in Australian com- pany Clough, which focused on offshore and coastal upstream oil and gas infrastructure.

M&R expected to increase its share in Clough to 60% by December 2009 and expected the company to continue being successful in the liquefied natural gas market in Australia.

The company had an order book of A$1,2-billion as at June 30, 2008, compared with A$810-mil- lion in 2007.

Meanwhile, Bruce commented that the group “needs new impetus” in terms of improving its safety record, specifically in South Africa, where eight of its contract workers had died on May 1 at Gold Fields’ South Deep mine.

 


To watch a video in which Murray & Roberts CEO Brian Bruce discusses the opportunities in the nuclear energy sector, click here.

 


 

 

Edited by: Creamer Media Reporter
© Reuse this Comment Guidelines
 
 
 
 
 
 
 
 
Other News This Week News
Local aerospace company Denel Aerostructures (DAe), part of the State-owned Denel Group, has won a fourth contract to manufacture parts for the Airbus A400M military air transport and air-to-air refuelling aircraft. The new contract, which was won in an international...
An increasing number of buyers, in both the new and used car markets, are opting for finance structures that lower their monthly repayments, says asset financing company WesBank. These include the use of large balloon payments (also known as residuals), as well as...
More
 
 
Latest News
Updated 7 hours ago President Jacob Zuma announced the composition on Wednesday of the ‘Energy Security Cabinet Sub-Committee’, which he said would oversee the development of South Africa’s future energy mix. Delivering his Budget Vote in the National Assembly, Zuma said the...
Cesa CEO Lefadi Makibinyane
Updated 7 hours ago Consulting Engineers South Africa (Cesa) on Wednesday stated that it welcomed government’s move to lead municipalities back to basics and to put in place institutional mechanisms to enable them to deliver core municipal services, as announced by Cooperative...
Updated 7 hours ago JSE-listed construction firm Group Five on Wednesday announced that it expected its fully diluted headline earnings per share (HEPS) for the year ended June 30 to be between 20% and 30% higher, at 382c to 414c, than the fully-diluted HEPS of 318c achieved during the...
More
 
 
Recent Research Reports
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
Real Economy Insight: Construction 2014 (PDF Report)
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
Real Economy Insight: Electricity 2014 (PDF Report)
This five-page brief covers key developments in the electricity industry over the past 12 months, including details of State-owned power utility Eskom’s generation activities, funding and tariffs, independent power producers and prospects for the sector.
Real Economy Insight: Road and Rail 2014 (PDF Report)
This six-page brief covers key developments in the road and rail industries over the past 12 months, including details of South Africa’s road and rail network and prospects for both sectors.
Real Economy Insight: Steel 2014 (PDF Report)
This four-page brief covers key developments in the steel industry over the past 12 months. It provides an overview of the global and South African steel and stainless steel markets, South Africa’s major steel producers and events that have shaped these markets.
 
 
 
 
 
This Week's Magazine
Local aerospace company Denel Aerostructures (DAe), part of the State-owned Denel Group, has won a fourth contract to manufacture parts for the Airbus A400M military air transport and air-to-air refuelling aircraft. The new contract, which was won in an international...
Bob Skinstad
Although CEO Mark McChlery and chief marketing officer Bob Skinstad likened themselves to children in a playground when taking on the task of “reengineering and repositioning” the Seartec brand, the “young, dynamic and enthusiastic guys” were like proud...
An increasing number of buyers, in both the new and used car markets, are opting for finance structures that lower their monthly repayments, says asset financing company WesBank. These include the use of large balloon payments (also known as residuals), as well as...
Tertiary education institutions can use search engine giant Google’s Chromebook to provide secure mobile end-point devices for students on which they can share documents, work collaboratively on documents and access education materials and applications being used...
Local ceiling and partition company Abbeycon has beaten global competition at the Saint-Gobain Gypsum International Trophy competition, which was held last month in Berlin, Germany.
 
 
 
 
 
 
 
 
 
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