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BAIC vehicle manufacturing plant project, South Africa

By: Sheila Barradas     26th August 2016 The Beijing Automotive Group Corporation (BAIC) plans to build a completely knocked-down vehicle manufacturing plant in the Eastern Cape Industrial Development Zone. 

Broadband Infraco shows signs of improvement

By: Natasha Odendaal     25th August 2016 With revenue having reached record levels and losses narrowing significantly during the year to March 31, State-owned entity Broadband Infraco has turned earnings before interest, taxes, depreciation and amortisation- (Ebitda-) positive for the first time. This is in line with promises made by... 

Bushveld raises cash for Vametco costs, other projects

By: Creamer Media Reporter      25th August 2016 Diversified mineral development company Bushveld Minerals has raised £580 000 through the issue of 38.67-million shares at 1.5p apiece. The proceeds will be used for general working capital purposes, continuing costs associated with the Vametco transaction, ongoing work in respect of subsidiary... 

Basil Read feels the pinch in subdued construction environment

By: Megan van Wyngaardt     22nd August 2016 With the local construction sector remaining subdued in the six months to June 30, JSE-listed construction company Basil Read has seen a drop in profit after tax to R34.4-million, down from R41.6-million in the comparative period of 2015. However, despite the difficult trading environment,... 

BAIC to build CKD auto plant in Coega industrial zone 

By: Terence Creamer     19th August 2016 The Coega Development Corporation (CDC) reports that it has signed a deal with the Beijing Automobile International Corporation (BAIC) for a new automotive investment worth R11-billion into the Eastern Cape industrial development zone (IDZ). The Chinese State-owned company plans to build a... 

AMSA chief says rising rand to take gloss off recovery

By: Terence Creamer     17th August 2016 ArcelorMittal South Africa (AMSA) CEO Wim de Klerk says he still expects the steel group to enjoy a better second half than was the case in the six months to June 30, but admits that the recent strengthening in the rand against the US dollar is likely to weigh on financial performance. The... 

IDC, BAIC set to unveil plans for new Eastern Cape auto plant

By: Terence Creamer     16th August 2016 South Africa’s State-owned Industrial Development Corporation (IDC) has indicated that it and the BAIC Automotive Group, of China, will announce details of a new multibillion-rand motor vehicle manufacturing plant in Eastern Cape later this month. The development financier will host its annual... 

Resgen secures R5.5bn for Boikarabelo

By: Megan van Wyngaardt     8th August 2016 Dual-listed Resource Generation (Resgen) has secured R5.52-billion to complete construction of the Boikarabelo coal mine, in Limpopo. The emerging coal miner noted on Monday that Ledjadja Coal, a subsidiary of Resgen, had agreed on the commercial terms with a financing syndicate to secure the... 

RESGEN moves closer to construction of flagship Waterberg Boikarabelo coal mine

     8th August 2016 Agreement of Commercial Terms with Financing Syndicate   ASX and JSE listed emerging coal producer Resource Generation (Resgen) is pleased to advise that its BEE subsidiary, Ledjadja Coal, has reached a commercial agreement with a financing syndicate, to securing a funding package of R5.52... 

Steel designations, Highveld supply to shore up AMSA demand amid weak market

By: Terence Creamer     29th July 2016 Steel producer ArcelorMittal South Africa (AMSA) expects a proposed deal to reopen the heavy-section mill at Evraz Highveld Steel & Vanadium (Highveld), together with recent moves by government to stipulate the use of local steel when calculating local content on certain infrastructure... 

IDC, AFD sign €60m credit agreement for green projects

By: Megan van Wyngaardt     20th July 2016 South Africa’s Industrial Development Corporation (IDC) has signed an agreement with France's development agency, Agence Française de Développement (AFD), for a €60-million credit line aimed at local small-scale green projects. The facility, a collaboration under the Sustainable Use of Natural... 

AfroCan outlines reasons for Lily mine transaction failure

By: Ilan Solomons     18th July 2016 Canadian gold producer and investor AfroCan Resources Gold has outlined its reasons for withdrawing from an equity transaction with Vantage Goldfields for the Lily gold mine, in Barberton. Through its attorneys in Sydney, Australia, AfroCan issued a letter to Vantage providing the reasons why... 

Capitalise on huge investment in the manufacturing sector

     14th July 2016 The future for manufacturing in the KwaZulu-Natal region is looking especially bright, with a number of substantial recently completed projects and newly announced projects seeing a large cash injection from well-known companies. In mid-April, the second phase of the upgrade and expansion to... 

Zuma leads delegation to France to promote trade

By: Anine Kilian     4th July 2016 President Jacob Zuma will lead South African Ministers and a business delegation on an official State visit to France from July 11 to 12. The key objective for the visit would be to promote South Africa’s exports and to attract investment in the automotive, ship-building, aquaculture and energy... 

Localised metal fatigue: we’ve been having it

By: Riaan de Lange     1st July 2016 It is said that ‘metal fatigue’ is the progressive and localised structural damage that occurs when a material is subjected to cyclic loadings. The Encyclopaedia of Tribology defines ‘cyclic loading’ as the application of repeated or fluctuating stresses, strains or stress intensities to... 

Creditors to receive Highveld business rescue update on July 11

By: Terence Creamer     27th June 2016 The business rescue practitioners at Highveld Steel and Vanadium will hold a meeting in early July to update creditors and shareholders of the progress being made regarding the sale of assets, following the failure of an earlier proposal to sell the business as a going concern. The meeting will... 

France, Switzerland to finance small-scale green energy projects in South Africa

By: Dylan Slater     24th June 2016 An agreement to finance a technical assistance programme to assist banks in financing small scale renewable energy and energy efficiency projects in South Africa was signed on May 26 by the French Agency for Development (AFD) and the State Secretariat for Economic Affairs of Switzerland (Seco).  

Polyethylene terephthalate recycling plant, South Africa

By: Sheila Barradas     24th June 2016 Mpact has announced a major move into plastics recycling with the unveiling of plans for a state-of-the-art polyethylene terephthalate recycling plant. 

Momentum grows for solar-diesel hybrid microgrids in Zambia

By: Anine Kilian     21st June 2016 Amid an ongoing drought that has resulted in a severe power crisis in Zambia, the framework conditions for investment in solar power projects have become more attractive. New analysis ‘Power crisis and consequences for solar energy in the Zambian mining sector’ published by the Deutsche... 

Aerosud Aviation exceeds growth objectives

     17th June 2016 In 2014, Aerosud Aviation was comprehensively restructured to ensure continued strong growth. This included recognition by the Industrial Development Corporation (IDC) of the business as a national strategic industrial asset, with the IDC investing in a substantial financial stake in the company... 

Xina Solar One parabolic trough plant project, South Africa

By: Sheila Barradas     17th June 2016 Heat tracing specialist eltherm South Africa has been awarded the contract to design and install a heat tracing system for the Xina Solar One power plant. 

Bushveld Energy, IDC sign cooperation on VRFB feasibility

By: Natasha Odendaal     13th June 2016 Aim-listed Bushveld Minerals’ newly established subsidiary, Bushveld Energy, is a step closer to its ambitions of developing market opportunities for vanadium-redox flow batteries (VRFB) in South Africa, as it teams up with development finance institution the Industrial Development Corporation... 

Northam raises R250m from IDC

By: Creamer Media Reporter      10th June 2016 JSE-listed Northam Platinum has successfully raised R250-million through the issue of R250-million of new domestic medium-term notes. Northam in February announced that it had entered into a subscription agreement with the Industrial Development Corporation (IDC), which would subscribe for... 

Corporates urged to support youth development through football programme  

By: Sashnee Moodley     2nd June 2016 The South African Football Association’s (Safa’s) Development Agency (SDA) is urging corporate companies to partner and invest in its football-based Safe-Hub programme, which aims to encourage youth to engage in life skills programmes through the use of football.  The Safe-Hub programme – which... 

Swiss, French agencies establish €3m programme to help finance S African renewable-energy projects

     27th May 2016 The Swiss State Secretariat for Economic Affairs (Seco) and Agence Française de Développement  (AFD) have agreed on a €3-million technical assistance programme to assist banks in financing small-scale renewable-energy and energy efficiency projects in South Africa. The finance would be provided... 

Disused Saldanha quarry emerging as new liquid petroleum gas hub 

By: Dylan Slater     27th May 2016 A liquid petroleum gas (LPG) terminal and import infrastructure is being constructed by energy infrastructure company Sunrise Energy in Saldanha Bay, in the Western Cape, to curb historical LPG shortages and meet potential future requirements for gas-fired power plants and other industrial energy... 

Disused Saldanha quarry emerging as new liquid petroleum gas hub

By: Dylan Slater     27th May 2016 A liquid petroleum gas (LPG) terminal and import infrastructure are being constructed by energy infrastructure company Sunrise Energy, in Saldanha Bay, in the Western Cape, to curb historical LPG shortages and meet potential future requirements for gas-fired power plants and other industrial... 

Local company produces photovoltaic modules

     27th May 2016 Photovoltaic (PV) cell producer ARTsolar has recently completed production of the final consignment of locally produced PV modules at its KwaZulu-Natal-based plant, for the third round of the South African government’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP). 

DA urges IDC to give Guptas 'a wide berth'

By: News24Wire      25th May 2016 The Industrial Development Corporation (IDC) should “follow the lead of the commercial banks and give the president’s pals (the Guptas) a wide berth in future”, the Democratic Alliance (DA) said on Wednesday. DA MP Michael Cardo was officially responding to Economic Development Minister Ebrahim... 

IDC met with Atul Gupta, but never at Saxonwold – CEO

By: News24Wire      24th May 2016 Industrial Development Corporation (IDC) officials met with Atul Gupta and members of his business ahead of providing financial assistance to Oakbay Resources & Energy, it was revealed on Tuesday. IDC CEO Geoffrey Qhena confirmed the meetings took place in a written reply provided by Economic... 

First permanent infrastructure being built at new DRC tin mine 

By: Martin Creamer     23rd May 2016 The first permanent mining infrastructure is being built at the proposed new tin mine at Bisie, in the Democratic Republic of Congo (DRC), for which $130-million is being raised. Alphamin Resources CEO Boris Kamstra said the return airway drive being built would be used to acclimatise mining... 

Collaboration And Integrity Required For Infrastructure Project Success Says Arup SA

     23rd May 2016 “Two key factors for the success of infrastructure projects in Africa is the collaboration between the private and public sector, whilst using a third party for early engagement and de-risk; and integrity in the design process,” said Poya Rasekhi, Chief Executive Officer of Arup SA, at the recent... 

ARV project’s third attempt to supply affordable medicine

     20th May 2016 Government driven initiative the Ketlaphela project, which is aimed at establishing a fully backward integrated pharmaceutical company that bridges the gap between research and development capabilities in South Africa, is going through its third attempt at being implemented. 

African Infrastructure Leaders Discuss Innovation in Gauteng

     16th May 2016 Top-level executives and heads from Africa’s leading infrastructure and construction companies and institutions met to discuss strategies to foster industrialisation at a special event held in Johannesburg. The Captains of Construction annual leadership forum included delegates and special... 

Northam raises R175m for growth projects

By: Natasha Odendaal     13th May 2016 JSE-listed Northam Platinum on Friday said it had successfully raised term debt through the issue of R175-million of five-year senior unsecured fixed-rate domestic medium-term notes. The proceeds were expected to further strengthen Northam’s balance sheet and bolster the funding for the company’s... 

Lily Mine: Workers encouraged to apply for voluntary severance packages

By: African News Agency      13th May 2016 Workers at the doomed Lily gold mine in Barberton, Mpumalanga, have been informed that they may begin to apply for voluntary severance packages as the mine had no money to pay their salaries yet, trade union Solidarity said on Thursday. According to Solidarity, a business rescue practitioner... 

Renewable Energy Independent Power Producer Procurement Programme – third window, South Africa

By: Sheila Barradas     13th May 2016 An update on the third round of the Renewable Energy Independent Power Producer Procurement Programme. 

Saldanha liquefied petroleum gas import terminal, South Africa

By: Sheila Barradas     13th May 2016 The fabrication of liquefied petroleum gas (LPG) vessels, known as bullets, for the open-access LPG terminal has been completed. 

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