Jul 16, 2009
Real Economy ReportBack
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From Creamer Media in Johannesburg, this is the Real Economy Report. Our top stories this week: the first phase of the Gautrain heads towards its 2010 completion date; we discuss the greatest base-metal discovery since the Copperbelt; and, Ernst & Young highlight the risks and opportunities for African construction companies.
The first phase includes the network between the OR Tambo International Airport and Sandton, and includes the stations at the airport, and at Rhodesfield, Marlboro and Sandton, together with the depot and operations control centre located near Allandale road, in Midrand. The second phase, being constructed concurrently, will be completed in 54 months, in 2011. It includes the remainder of the rail network and stations linking Sandton to Park station, in Johannesburg, and the route from Midrand to Hatfield, in Pretoria.
The journey between Sandton and airport will take 15 minutes, and construction work is progressing well, says Bombela OR Tambo International airport site engineer Kevin Alix.
Bombela OR Tambo International airport site engineer Kevin Alix
Gautrain Management Agency CEO Jack van der Merwe says that a decision will have to be made on whether phase one of the project now needs a cash injection to be finished in time for the sports event.
He says government is currently in talks with Bombela to accelerate the project, and that it will have to decide whether it will be prepared to pay the bill to have the airport rail link ready for the World Cup kick-off.
However, he adds that there is a "need and desire" from government to finish phase one of the project in time for the global sports event.
Van der Merwe says that he has been hopeful to make an announcement on the possible fast-track of the project this month, but that he is now targeting August or, at the very least, the next three months.
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Chris Davies, operations director, African Eagle
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Euan Worthington, deputy chairperson, African Eagle
Bevan Metcalf, financial director, African Eagle
Ernst & Young business development director John Wetton
In our cover story, we highlight how undersea telecommuncations company Seacom's landing will catalyse a pricing and capacity evolution, be we're warned not to expect a revolution.
The Industrial Development Corporation prepares to join a host of other State-owned enterprises in making a significant re-entry into the capital markets next year.
And, the chairperson of the newly inaugurated Technology Innovation Agency, Mamphela Ramphele, promises to make new ideas bankable.
And in Mining Weekly this week:
Read our cover story where we showcase the Russian mining industry, which seems to be showing some signs of recovery from the global recession.
We report that South Africa's State-owned mining company might create its first opencast coal mine by the end of 2010.
And, we report that Africa-focused diamond-miner Stellar Diamonds is considering several consolidation opportunities.
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