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Sep 09, 2010

Real Economy Report

Real Economy Report 124
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From Creamer Media in Johannesburg, this is the Real Economy Report. Our top stories this week:
The head of global energy equipment group Alstom Power talks to us about biomass co-firing prospects in South Africa and elsewhere;
JSE-listed energy company Keaton Energy eyes a high metallurgical coal profit;
And, the R12-billion Triangle Core Fund is launched.

Shannon de Ryhove:
The use of biomass co-firing in South Africa's existing coal-fired power stations could potentially help the country reduce its carbon-dioxide emissions. Alstom Power president Philippe Joubert spoke with Creamer Media's Terence Creamer about the prospects for co-firing.

Alstom Power president Philippe Joubert

Shannon de Ryhove:
Coal mining company Keaton Energy is eyeing a diversified commercial mix from its Vanggatfontein project. Jonathan Faurie reports.

Jonathan Faurie:
First coal from the Vanggatfontein project is expected in November this year, with first delivery to Eskom in April 2011. MD Paul Miller explains why the project is described as the right asset at the right time.

Keaton Energy MD Paul Miller

Jonathan Faurie:
He adds that the company has developed an interesting commercial strategy.

Paul Miller

Shannon de Ryhove:
Old Mutual Investment Group Property Investments (OMIGPI) has launched a R12-billion Triangle Core Fund, scheduled to be listed in mid-2011.

Dennis Ndaba:
OMIGPI believes that this fund will assist in accessing additional capital sources while ensuring optimal investment performance in a well-diversified quality portfolio.

The Triangle Core Fund will be the third largest by value in the JSE's listed property sector, with Redefine second with a market capitalisation of R21-billion and Growthpoint Properties first, with about R24-billion.

The fund will comprise a mix of 40 prime retail, industrial and office properties, but is focused primarily on the retail sector.

OMIGPI MD Ben Kodisang

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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