Infrastructure
INFRASTRUCTURE FINANCE
Banks unveil R61,2m infrastructure-study support scheme
The European Investment Bank (EIB) and the Development Bank of Southern Africa (DBSA) unveiled a €6-million (R61,2-million) joint technical assistance programme on Thursday, which has been designed to improve the preparation and implementation...
By: Terence Creamer
18 Mar 10
CONSTRUCTION
Competition in construction sector intensifying, margins under pressure – Aveng CEO
A few years ago, there would have been five bidders for a construction project, said Aveng CEO Roger Jardine on Wednesday as he announced the company’s financial results for the six months ended December 31.
“Now there are 20 bidders for the...
By: Irma Venter
17 Mar 10
CONSTRUCTION OUTLOOK
SA's R846bn infrastructure push not yet reflected in contract flow - Aveng
Construction and engineering major Aveng indicated that trading conditions in the infrastructure sector would "remain tight" for the remainder of 2010, despite signs that the economic crisis was starting to work its way out of the system.
The...
By: Terence Creamer
17 Mar 10
CONSTRUCTION
Basil Read may hive off mining into separately listed entity – CEO
The mining division of the JSE-listed Basil Read construction group may be hived off into a separately listed entity, Basil Read CEO Marius Heyns said on Friday.
Heyns told Engineering News Online that the company was working on a strategy to...
By: Martin Creamer
12 Mar 10
STADIUM INFRASTRUCTURE
Green light for 2010 stadiums sound system
Sub Saharan Africa’s black-empowered professional audio and lighting company, TDC Prosound says the sound system is 98% complete in nine of the ten stadiums that will be used for the 2010 FIFA World Cup.
By: Dennis Ndaba
12 Mar 10
CONSTRUCTION INDUSTRY
SA construction major looks offshore to fill project pipeline
JSE-listed construction group Murray & Roberts is increasingly shopping offshore for project opportunities.
By: Irma Venter
12 Mar 10
FINANCIAL RESULTS
Basil Read's order book at R8,1bn, FY profit jumps
Civil engineering and construction group Basil Read boosted its order book by 29% to R8,1-billion in 2009, while it increased its full-year net profit by 32% to R270-million, the JSE-listed company reported on Thursday.
Earnings a share rose by...
By: Mariaan Webb
11 Mar 10
ROAD CONSTRUCTION
Gauteng freeway upgrade about 70% complete, despite heavy rains
On average, phase one of the Gauteng Freeway Improvement Project (GFIP) is around 70% completed, says South African National Roads Agency Limited (Sanral) GFIP project manager Alex van Niekerk.
By: Irma Venter
05 Mar 10
CONSTRUCTION
We need more Sanrals, Sanyati’s Lobban avers
Government’s infrastructure spend programme of R846-billion over the next three years, as highlighted in Finance Minister Pravin Gordhan’s budget speech in February, should see between R160-billion and R220-billion filter down to the...
By: Irma Venter
05 Mar 10
CONSTRUCTION
Work remains, but competitive pressures
have increased – WBHO
“There is no doubt about it,” says Wilson Bayly Holmes - Ovcon (WBHO) CEO Louwtjie Nel, “there is still work out there, but to get it, you have to be much more competitive.”
By: Irma Venter
05 Mar 10
CONSTRUCTION INDUSTRY
Group Five seeks more work abroad, in private sector
Group Five was seeking a return to a “nice mix of public and private work such as before the super-boom”, said CEO Mike Upton on Thursday as he announced the company’s results for the six months ended December 31.
He was also in favour of...
By: Irma Venter
04 Mar 10
CONSTRUCTION INDUSTRY
Group Five dubs Eskom contract uncertainty ‘destructive’
“Eskom’s woes have been frustrating” on the construction and engineering industry, said Group Five CEO Mike Upton on Thursday.
He described the power utility’s “failure to communicate clearly to the market” what had been happening...
By: Irma Venter
04 Mar 10
FINANCIAL RESULTS
Group Five’s interim profit up 14%
Construction and engineering firm Group Five on Thursday reported a 14% increase in 2010 interim profits to R274-million, compared with R240,7-million the year before.
The group, led by CEO Mike Upton, noted that the traditional sectors in which...
04 Mar 10
CONSTRUCTION
Aveng hands over Soccer City stadium
The completed Soccer City stadium, which would be used for the opening and closing matches of the 2010 FIFA World Cup, was on Wednesday officially handed over to the City of Johannesburg.
JSE-listed construction group Aveng, its subsidiary...
03 Mar 10
CONSTRUCTION OUTLOOK
Construction to lag behind SA economy in recovery – Fitch
The credit profiles of South African construction companies were likely to remain under pressure this year, as local market conditions were not expected to significantly improve until the middle of next year, Fitch Ratings said on Wednesday.
With...
03 Mar 10
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