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Construction News

More than 300 delegates expected

By: Donald Makhafola     27th July 2018 The Southern Africa Readymix Association (Sarma), The Concrete Institute (TCI), the Concrete Society of Southern Africa (CSSA) and the Concrete Manufacturers Association (CMA) are looking forward to hosting more than 300 delegates at this year’s The Concrete Conference (TCC), which will take... 

Competitive prices key in eliminating counterfeit parts

By: Halima Frost     27th July 2018 Although Africa is a brand-conscious continent the majority of consumers seek cheaper prices, and the automotive industry needs competitive aftermarket prices to deal with the challenges posed by counterfeit goods, says intellectual property law firm Spoor & Fisher anti-counterfeiting department... 

Competitive prices  key in eliminating counterfeit parts
SPARKS FLY Confiscated bearings are taken to a smelter to be destroyed

PPC launches new, extended product range despite economic headwinds

By: Simone Liedtke     26th July 2018 PPC Cement South Africa on Thursday launched its fit-for-purpose ‘Sure’ product range, with each of the six products in the range carefully designed for a specific application. Dubbing it the company’s “most significant rebranding and refocusing in over 100 years,” PPC Cement South Africa MD... 

PPC launches new, extended product range despite economic headwinds

China loans to Africa energy, infrastructure projects almost trebled between 2016 and 2017

By: African News Agency      26th July 2018 The value of Chinese loans to energy and infrastructure projects in Africa almost trebled between 2016 and 2017 to nearly $9-billion and the impact of this lending is increasingly visible in Africa, law firm Baker McKenzie said at the sidelines of a Brics summit. Baker McKenzie, participating at... 

New property fund aims to renew South Africa’s cities

By: Marleny Arnoldi     25th July 2018 Divercity Urban Property Fund is seeking to renew and re-energise South Africa’s urban centres, and is backed by the experience of leading property specialists and a R2-billion seed portfolio of landmark property assets. Divercity’s biggest shareholders are Atterbury Group and Ithemba Property,... 

Vukile’s Castellana lists on Spanish Stock Exchange

By: Marleny Arnoldi     25th July 2018 JSE-listed real estate investment trust Vukile Property Fund’s 98%-owned Spanish subsidiary Castellana Properties on Wednesday listed on the Spanish Stock Exhange’s Mercado Alternativo Bursátil. The shares were listed at an introductory price of €6 apiece, which attributes a market... 

Africa's richest man arranges $4.5bn of financing for oil refinery 

By: Reuters     25th July 2018 Africa's richest man, Aliko Dangote, has arranged more than $4.5-billion in debt financing for his Nigerian oil refinery project and aims to start production in early 2020, he told Reuters. Dangote, who built his fortune in cement, is building the world's largest single oil refinery with capacity... 

Cape Town train fire platform repairs completed – Metrorail

By: News24Wire      25th July 2018 Repairs to the two platforms at Cape Town station damaged during a fire last week were completed on Tuesday. In a statement, Metrorail said Platforms 15 and 16 were back in business after repairs had been completed and structural engineers confirmed that the integrity of the overhead concrete... 

Rwanda signs $300m in loan deals with China, India

By: Reuters     24th July 2018 Rwanda signed loan agreements worth more than $300-million with China and India to fund roads and irrigation, officials said, as leaders from the two Asian powers made their first visits to the East African nation. Chinese President Xi Jinping visited Rwanda from Sunday to Monday and granted a... 

Brics bank approves $600m loans for South African, Chinese projects

By: Reuters     24th July 2018 The New Development Bank, set up by the Brics group of emerging economies, has approved loans of $300-million for energy projects in South Africa and $300-million for a transportation project in China. South Africa, which will host a Brics summit later this week in Johannesburg, is trying to... 

Eskom confident of raising R72bn despite qualified audit  

By: Terence Creamer     23rd July 2018 Financially stressed electricity producer Eskom expressed confidence on Monday that it would be able raise the R72-billion it required for the 2019 financial year, despite having received a qualified audit opinion for the 2018 financial year, reporting a R2.3-billion loss and nearly 20-billion in... 

Eskom confident of raising R72bn despite qualified audit
Eskom chairperson Jabu Mabuza explains why IPPs do not pose a financial risk to the utility. Camera Work & Editing: Nicholas Boyd. Recorded: 23.07.2018

Growthpoint, Cintocare break ground on R450m Pretoria head, neck hospital

By: Marleny Arnoldi     23rd July 2018 Real estate investment trust Growthpoint Properties and private company Cintocare on Monday broke ground on the R450-million development of an 11 000 m2 special surgical head and neck hospital, in Pretoria, which will be the first green-certified hospital in Africa. The companies are creating a... 

Growthpoint, Cintocare break ground on R450m Pretoria head, neck hospital
Growthpoint has started with earthworks for the head and neck surgical hospital in Pretoria

Liberty Two Degrees declares 29c dividend for H1, finalising corporate move

By: Marleny Arnoldi     23rd July 2018 Retail-focused real estate investment trust (Reit) Liberty Two Degrees (L2D) has declared a distribution of 29.3c apiece for the six months ended June 30, in line with expectations and despite a challenging environment. As a result of the acquisition of additional undivided shares of... 

As crops dry, Malawi turns to solar irrigation

By: Reuters     23rd July 2018 As climate change brings longer droughts, farmers in eastern Malawi's already dry Lake Chilwa basin are seeing an ever-more-frequent disaster: maize wilting or drying completely, leaving families hungry. "In the past many farmers relied on rain-fed agriculture to grow their food," said Edwin... 

City of Tshwane allocates more than R25m to fix sinkholes around the city

By: African News Agency      23rd July 2018 The City of Tshwane has allocated at least R27.5-million to address five prioritised sinkholes that have created a hazard for drivers in the last few years, said Member of the Mayoral Committee for roads and transport Sheila Lenna Senkubuge on Monday.  Another R25-million will be made available... 

Sappi to invest R7.7bn on Saiccor mill expansion, improvement initiatives

By: Marleny Arnoldi     23rd July 2018 Paper and packaging producer Sappi will invest R2.7-billion in 2018 and 2019 on expanding the capacity of its Saiccor Mill, in Umkomaas, south of Durban, to produce 890 000 t/y of dissolving wood pulp (DWP). The mill currently produces 780 000 t/y of DWP.  

Sappi to invest R7.7bn on Saiccor mill expansion, improvement initiatives
Sappi Southern Africa CEO Alex Thiel

R30m damage caused by Cape Town train fire

By: News24Wire      23rd July 2018 Officials are trying to establish the cause of a fire at Cape Town station that destroyed a number of train units – leaving an estimated R30-million cost of repair, PRASA said on Sunday. "While the reasons behind the fire are still sketchy, it is reported that one train arrived at the station, at... 

Cape Town's Freeway Foreshore Project might be back on again

By: News24Wire      23rd July 2018 Cape Town's Foreshore Freeway Projects is not "dead and buried" and the City will go back to the drawing board to find another way of making the project work, Mayor Patricia De Lille said on Sunday. "It is disappointing that our first attempt did not work out," said De Lille in a statement. This... 

Cape Town's Freeway Foreshore Project might be back on again

In Senegal, China's President Xi pledges stronger Africa ties

By: Reuters     23rd July 2018 China's President Xi Jinping pledged during a visit to Senegal on Saturday to strengthen economic ties with Africa, a continent already awash with cheap Chinese loans in exchange for minerals and huge construction projects. Xi arrived in Senegal on Saturday for a two-day visit to sign bilateral... 

Emira to start leasing The Bolton apartments in Rosebank from August

By: Marleny Arnoldi     20th July 2018 JSE-listed real estate investment trust Emira Property Fund’s R200-million The Bolton apartment block, in Rosebank, will start welcoming its first residents in August. Emira converted an office property block formerly occupied by petrochemicals giant Sasol into a contemporary residential... 

Emira to start leasing The Bolton apartments in Rosebank from August
Emira Property Fund's apartment interior at The Bolton in Rosebank

SA’s ambitious Youth Employment Service starts taking shape 

By: Marleny Arnoldi     20th July 2018 The Youth Employment Service (YES) aims to create one-million jobs within three years to help alleviate the situation of six-million unemployed youths in South Africa, 60% of whom reside in townships and rural areas. YES was established by the CEO Initiative, which is a partnership created... 

SA’s ambitious Youth Employment Service starts taking shape
YES CEO Tasmia Ismail-Saville discusses the first hub opening and company involvement towards the initiative. Camerawork and Editing: Nicholas Boyd.

Transnet expansion project uplifts the community

20th July 2018 State-owned freight rail company Transnet’s R2.38-billion Manganese Rail Phase 1 Expansion project created about 2 200 employment opportunities in the remote Northern Cape region and provided skills development and training to local staff. 

Transnet expansion project  uplifts the community
BENEFICIARIES Women to Women Shelter is one of the community organisations that benefited from the project

S African project managers require business competencies

By: Donald Makhafola     20th July 2018 In the early stages of a project management career, some professionals have a lack of understanding of the link between business strategy and projects, and with this, the acumen to know what business information emanating from the project is useful to extract, interpret and provide to the... 

S African project managers require business competencies
Photo by Bloomberg
PROJECT MANAGERS Project Management South Africa members are currently undergoing assessment on the designations that require a review of the competencies associated with project management

Stenprop sells Swiss properties

By: Creamer Media Reporter      19th July 2018 JSE- and LSE-listed Stenprop has completed the sale of two of its properties, Altendorf and Arlesheim, in Switzerland, as part of its strategy of positioning itself as a specialised UK multi-let industrial real estate investment trust. The two properties were sold to Helvetica Swiss Commercial. 

WBHO grows its UK presence

By: Creamer Media Reporter      19th July 2018 Wilson Bayly Holmes-Ovcon (WBHO) subsidiary WBHO UK has acquired a 60% stake in UK construction business Russells for £32.8-million, as well as a 31.7% stake in Russell Homes for £3.25-million. Russells provides design, installation and project management capabilities in the UK construction... 

WBHO grows its UK presence

US-based Opic CEO visits S Africa, African countries to advance development

By: Marleny Arnoldi     19th July 2018 US Overseas Private Investment Corporation (Opic) president and CEO Ray Washburne this week visited South Africa and met with local banks to discuss investment opportunities in advancing development in the country and highlight Opic-supported projects. It is Washburne’s third stop on a... 

First African company announces science-based greenhouse gas target

By: African News Agency      19th July 2018 Emira Property Fund has become the first African and South African company to have a greenhouse gas emissions target approved by the Science Based Targets initiative (SBTi). The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute and the World... 

M&R awarded R4bn of projects in Australasia

By: Marleny Arnoldi     19th July 2018 JSE-listed engineering and construction group Murray & Roberts (M&R) has been awarded new projects to the value of R4-billion, to be delivered over the next two years. These awards include projects to be undertaken by M&R’s oil and gas platform in the metals and minerals market in Australasia,... 

Light rail line in Nigeria's capital opens to passengers

By: Reuters     19th July 2018 Nigeria has opened a new Chinese-built light railway network in the capital Abuja after 11 years of construction, a rare transport project in a nation where economic growth has been stymied for generations by a lack of infrastructure development. Passengers were permitted this week to ride the... 

Alphabet to deploy balloon Internet in Kenya in 2019

By: Reuters     19th July 2018 Alphabet's Loon said on Thursday it would deploy its system of balloons to beam high-speed Internet access with Telkom Kenya from next year to cover rural and suburban populations, marking its first commercial deal in Africa. Known as Project Loon, the technology was developed by Alphabet's X,... 

City of Cape Town cancels Foreshore Freeway Precinct project 

By: News24Wire      18th July 2018 Cape Town's famous unfinished freeway will remain as it is, after the City announced on Wednesday that it was cancelling its ambitious Foreshore Freeway Precinct project. "The City of Cape Town’s City Manager has, upon receiving legal advice, taken the decision to cancel the Request for Proposals... 

Vukile raises R1.63bn, acquires new properties in Spain

By: Anine Kilian     18th July 2018 JSE-listed Vukile Property Fund, which is expanding its presence in Spain, has raised about R1.63-billion through the issue of new shares. Of the total, R1.38-billion was raised through an accelerated bookbuild process that was open to selected investors. 

Calgro M3 expands Memorial Parks business

By: Anine Kilian     18th July 2018 JSE-listed property and property related investment holding company Calgro M3 has expanded its Memorial Parks business to two more provinces – the Western Cape and the Free State. This increases the number of memorial parks owned and managed by the group to five, with further plans to acquire... 

Listed contractors feeling the pinch as construction sector dynamics change 

By: Natasha Odendaal     18th July 2018 A change in dynamics within the construction industry over the past few years is leading to the demise of the “big contractor” in South Africa. With the first potential “casualty” possibly being seen in the downward spiral of Basil Read, Industry Insight senior economist David Metelerkamp on... 

Listed contractors feeling the pinch as construction sector dynamics change
Industry Insight senior economist David Metelerkamp discusses the state of South Africa's construction industry. Video and editing: Darlene Creamer.

Growthpoint shares start trading on A2X

By: Creamer Media Reporter      18th July 2018 Real estate investment trust Growthpoint Properties’ shares began trading on the A2X on Wednesday. Growthpoint retains its primary listing on the JSE. 

Grit to seek LSE listing, raise $120m for acquisitions

By: Creamer Media Reporter      17th July 2018 Pan-African real estate company Grit Real Estate Income Group plans to list on the LSE. The company, which is focused on real estate investment assets in selected African countries, is already listed on the JSE, as well as the Stock Exchange of Mauritius. 

China overloading poor nations with debt, top US official says

By: Reuters     17th July 2018 China is saddling poor nations with unsustainable debt through large-scale infrastructure projects that are not economically viable, the head of the US Overseas Private Investment Corporation (OPIC) said on Monday. The criticism of Beijing - targeted by President Donald Trump in a trade war that... 

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