R/€ = 15.02
R/$ = 14.13
Au 1071.25 $/oz
Pt 843.50 $/oz
Feb 26, 2007
Proposed R2bn Richards Bay dry dock plagued by delaysBack
© Reuse this A South Africa-China consortium of companies, led by black-owned Imbani Projects, which is to build a R2-billion ship-repair facility at Richards Bay, hopes to finalise the lease agreement by the end of March, and begin construction in the secondhalf of the year, it said on Monday.
“We got the draft lease agreement and have commented on it and sent it back to the National Ports Authority (NPA),” Imbani Projects COO Ebenezer Moahloli said in a telephone interview. “The next move will be for all the relevant parties coming together, and their lawyers meeting with our lawyers to flesh it out.”
The Imbani Consortium, which was selected as the preferred bidder for the dry dock, was, however, reluctant to conduct a detailed geotechnical study on the project until it had a level of commitment from the NPA to the go ahead with the project.
The consortium was, therefore, seeking to sign a memorandum of understanding with the NPA, indicating that it planned to go ahead with the project.
“This will give us a level of comfort to put money into carrying out the relevant studies,” Moahloli stated. “We are working towards some sort of agreement.”
The group of companies, comprising three from South Africa and three from China, would then conduct the environmental-impact assessment and the feasibility study.
He hoped that this would be finalised by the end of March.
Site preparation and construction would then begin in the second half of this year.
“We're still working with a rounded figure of R2-billion,” he added.
Singapore visit “impresses” funders
Meanwhile, Moahloli said that Imbani representatives had visited dry docks in Singapore with officials from the Department of Trade and Industry, as well as possible funders for the project, the Industrial Development Corporation and the Development Bank of Southern Africa, who were all “very impressed” in the training programmes in a shipyard, as well as the various categories of employment. "They were very impressed with what they saw and all the visitors felt it was a good project for Richards Bay and the country as a whole," statead Moahloli.
Richards Bay mayor Denny Moffat also went on the trip.
“They are all very supportive of the proposed Richards Bay dry dock,” Moahloli enthused.
Imbani had originally hoped to have sealed the deal in June, and to have begun construction at the end of last year, but Moahloli said that extended negotiations between the consortium and the NPA had delayed this.
Both the NPA and its parent company, Transnet, signed off the consortium's proposal as long ago as May 2005.
The NPA was not immediately available for comment on Monday.
Edited by: Matthew Hill© Reuse this Comment Guidelines (150 word limit)
Updated 7 hours ago The National Economic Development and Labour Council's (Nedlac's) consideration of the modalities of the introduction of a national minimum wage could be completed next year, Labour Minister Mildred Oliphant said on Wednesday. Addressing Cosatu delegates at the...
Updated 7 hours ago JSE-listed Vukile Property Fund’s distributions for the six months ended September 30, increased by 7%, in line with guidance. Vukile boosted its distributable income by 27.7% year-on-year to R426.3-million and grew like-for-like net property revenue by 6.1%. CEO...
Updated 7 hours ago Old Mutual Alternative Investments (OMAI) will acquire the 50% of African Infrastructure Investment Managers (AIIM) it does not already own, making it the sole shareholder of the Pan-African infrastructure investment manager. The acquisition marked an important...
Recent Research Reports
Water 2015: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2015 Report considers the aforementioned issues, not only in the South African context but also in the African and global context in terms of supply and demand, water stress and insecurity, and access to water and sanitation, besides others.
Input Sector Review: Pumps 2015 (PDF Report)
Creamer Media’s 2015 Input Sector Review on Pumps provides an overview of South Africa’s pumps industry with particular focus on pump manufacture and supply, aftermarket services, marketing strategies, local and export demand, imports, sector support, investment...
Liquid Fuels 2015: A review of South Africa's liquid fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2015 Report examines these issues in the context of South Africa’s business environment; oil and gas exploration; fuel pricing; the development of the country’s biofuels industry; the logistics of transporting liquid fuels; and...
Road and Rail 2015: A review of South Africa's road and rail sectors (PDF Report)
Creamer Media’s Road and Rail 2015 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail infrastructure and network, the funding and maintenance of these respective networks, and...
Defence 2015: A review of South Africa's defence sector (PDF Report)
Creamer Media’s Coal 2015 report examines South Africa’s coal industry with regards to the business environment, the key participants in the sector, local demand, export sales and coal logistics, projects being undertaken by the large and smaller participants in the...
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,...
This Week's Magazine
Additive manufacturing, better known as 3D printing, has the potential to completely change the relationships between individual consumers, professional designers and manufacturers. So argued Loughborough University Reader in Computer Aided Product Design Dr Ian...
Airbus Defence and Space: Military Aircraft has highlighted that its A330 Multirole Tanker Transport (MRTT) has significant commonalities with the Airbus A330-200 commercial airliner, upon which it is based. The South African Air Force (SAAF) once operated a fleet of...
Financial services provider Nedbank launched the second edition of its Carbon Footprinting Guide earlier this month, which is aimed at demystifying carbon footprint approaches and help readers grasp the main concepts of carbon measuring, monitoring, reporting and...
This year marks the thirtieth anniversary of Caterpillar’s first backhoe loader. This also coincides with the worldwide release of its latest-generation F2 series backhoe loader, which was launched at supply chain services company Barloworld Logistics’ Big Dig Day in...
A shortage of software engineers is leading to fewer information technology (IT) projects in private and public sector organisations. This also places a dampener on the economy, as IT is an integral part of business and civil service, says University of Witwatersrand...