From Creamer Media in Johannesburg, this is the Real Economy Report.

The local arm of Chinese company Beijing Automotive Works, BAW South Africa, has cut the ribbon on its R200-million taxi assembly plant in Springs. The Industrial Development Corporation contributed equity of R22.9-million in what is reported to be the first of many investments in a number of sectors. Irma Venter reports.

Irma Venter:
The IDC has a list of investments planned for South Africa over the next few years, says IDC metal, transport and machinery products strategic business unit head Mazwi Tunyiswa. In this investment programme, there will be a strong emphasis on the renewable energy projects government plans to build in partnership with the private sector.

IDC metal, transport & machinery products strategic business unit head Mazwi Tunyiswa

Irma Venter:

The list of projects the IDC hopes to spend its budget on, includes a solar panel plant in the Eastern Cape.

Mazwi Tunyiswa

Shannon de Ryhove:
Following substantial growth since it’s opening in 2006, Logistics Transport Globally has recently completed a new facility in Rosslyn, outside Pretoria. Joanne Taylor compiled this report.

Logistics Transport Globally MD Ulland Muller

Shannon de Ryhove:

Other news making headlines this week: Eskom lowers its full-year sales forecast as flows to industry taper off; and Cosatu’s Zwelinzima Viva says ‘ANC’ mustn’t stand for ‘Absolutely No Consequence’.

State-owned electricity utility Eskom reported sales of only 110 766 GWh in the six months to September 30, 2012, a decline of 2.9% when compared with the 114 043 GWh recorded during the same period in 2011.

Eskom CEO Brian Dames

Congress of South African Trade Unions general-secretary Zwelinzima Vavi argues that the governing African National Congress should avoid morphing into a party of ‘Absolutely No Consequences’ and regain its political legitimacy by heeding lessons from Brazil and, particularly, its former president Luiz Inácio Lula da Silva.

Cosatu general-secretary Zwelinzima Vavi

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