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Jul 08, 2011

Multimillion-rand contract on track

Cosira CEO John da Silva discusses steel demand patterns. Camerawork: Nicholas Boyd. Editing: Shane Williams
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South African steel fabrication and construction company Cosira Group reports that the multimillion- rand contract it is executing at nuclear giant Areva Resources’ Trekoppje mine, in Nambia, is on schedule and within budget.

The project scope includes structural, mechanical, electrical, instrumentation, platework and piping (SMEIPP). This entails the provision and installation of free issue mech- anicals, fabrication and the erection of platework and piping for the maxi back-end of a new uranium plant.

“We have delivered about 90% of the structural steel to site and the fabrication of the piping system is about 80% complete. Construction progress on site is over 50% complete,” says Cosira CEO John da Silva.

The SMEIPP contractor says the contract, which was awarded in December 2010 and is due for completion in February 2012, is a significant contract for the group.

“The project has further exposed Cosira Group to the sub-Saharan African market on a larger scale. “As a result, we have also tendered for Trekoppje mine’s front-end maxi project and we are optimistic about our chances of securing the contract, based on our current project performance,” he notes.

Further, the group aims, in the future, to tap into the SMEIPP markets in Mozambique, Zambia, Zimbabwe and Botswana, as well as in Namibia. “We see great potential in South Africa’s neighbouring countries in growing our Pan-African project footprint,” says Da Silva.

He notes that the group has witnessed a reasonable increase in steel demand in Southern Africa, owing to increased activity in the mining industry and certain other projects coming on line.

“Platinum, diamond, gold and ferrochrome mining projects are increasingly growing in sub-Saharan Africa, with further projects in the coal-mining industry taking off,” he says.

Demand is not yet significant and therefore lacks stability, but it is balanced, considering the competitive nature of the industry and price increase pressures, he adds.

The group reports that the volatile steel price is affecting its business and competitiveness, but emphasises that it mostly quotes its clients on projects based on a fluctuation indices methodology.

Edited by: Chanel de Bruyn
Creamer Media Senior Deputy Editor Online
© Reuse this Comment Guidelines (150 word limit)
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