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Jun 10, 2010

Real Economy Report

Real Economy Report 111
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From Creamer Media in Johannesburg, this is the Real Economy Report. Our top stories this week:
We look at one of the tools Eskom is hoping to use to close its R115-billion funding shortfall.
The New Road substation in Midrand is handed over to City Power.
And, FanRide offers dedicated transport for 2010 FIFA World Cup fans.

Shannon de Ryhove:
Eskom will soon disclose details of a plan designed to close funding shortfalls related to its committed capital programme worth R553-billion. Engineering News editor Terence Creamer offers some insight into one possible funding instruments: the sale of a stake in the Kusile project.

Terence Creamer:
There is much scepticism about whether Eskom will indeed be able to generate investor appetite for a minority stake in its R141,5-billion Kusile project, currently being built in Mpumalanga. Chief officer generation, Brian Dames, has assured us that there is indeed interest in the transaction. But, he admits that this interest comes with risk and return caveats.

Eskom chief officer generation Brian Dames

Shannon de Ryhove:
High-voltage construction company Conco has handed over the New Road substation in Midrand to City Power. Creamer Media gets a first hand view.

Conco project manager New Road substation Mario Prasti:
People are always looking for extra power, now this is not actually generation of power, we are not actually making power, we are just taking the generated power that is available, and just putting it in a place and distributing it to the consumer, and that is what you need when you start a development.

Christy van der Merwe:
New Road is a 132/11kV indoor cellular substation, currently operated at 88 kV but ready for 132 kV change-over in future. There are three 40 MVA transformer bays, a double busbar system, and two 11 kV switchboards linked by through-wall busbars comprising 40 panels.

Panels allowing remote control protection and supervisory features are present, which means in future City Power will be able to operate the substation remotely from its head office in Johannesburg.

The latest safety and security features have also been included.

Mario Prasti

Shannon de Ryhove:
Transport company FanRide has collaborated with the Melrose Arch precinct and with the local taxi industry to provide dedicated prebooked transport to and from South Africa's World Cup stadiums. Chanel de Bruyn has the story.

Chanel de Bruyn:
FanRide has trained drivers from the local taxi industry to provide foreign and local soccer fans with dedicated transport to and from the Soccer City, Ellis Park, Loftus Versveld, Royal Bafokeng and Peter Mokaba stadiums during the World Cup.

CEO Leema Mofokeng explains what this service will entail.

Fanride CEO Leema Mofokeng

Chanel de Bruyn:
The transport company promises safe and reliable transport.

Leema Mofokeng

Shannon de Ryhove:
And now for a sneak preview of this week's Engineering News magazine:

In this week's cover story, we report that South Africa is backing Norway's 1-billion-dollar bid to advance carbon capture and storage.

South Africa's electric vehicle pioneer unveils a three-wheel concept car.

And, Gauteng's underperforming agencies face an overhaul that could generate yearly savings of 100-million-rand.

And in Mining Weekly this week:

In this week's cover story, we explore how the JSE can advance from good to great.

We report that Randgold & Exploration is back in business and keen to fill a perceived unfilled space on the current South African mining landscape.

And, a Chinese consortium eyes Aurora's Orkney mine as AngloGold halts services to the mine.

That's Creamer Media's Real Economy Report. Join us again next week for more news and insight into South Africa's real economy.


Edited by: Shannon de Ryhove
Creamer Media Senior Deputy Editor Polity & Multimedia
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