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Stefanutti Stocks stays in the red as it reports R101m loss

By: Irma Venter 26th November 2020 The impact of Covid-19, as well as an adverse market, saw Stefanutti Stocks report an operating loss of R101-million for the six months ended August 31, compared with a R865-million loss in the same period last year. Contract revenue from continuing operations declined from R2.9-billion to... →

Six steps proposed for unlocking larger-scale self-gen projects, amid ongoing government resistance

By: Terence Creamer 26th November 2020 Six steps could be taken immediately by the South African government and the energy regulator to unlock more self-generation investment by residential, commercial, industrial, mining and agricultural consumers so as to minimise power shortages and reduce the threat of load-shedding, a newly... →

Aveng's shares rise on recapitalisation, restructuring progress

By: Creamer Media Reporter 25th November 2020 Infrastructure and resources company Aveng's share price on the JSE rose by 50% on Wednesday, after it announced that it was making progress with its balance sheet restructuring and recapitalisation plans and that it expected to report improved financial results for the financial year ended June... →

New Castle Gate lifestyle centre opening its doors in Pretoria

By: Simone Liedtke 25th November 2020 The first phase of the new multibillion-rand Castle Gate mixed-use precinct development in Pretoria will open its doors to the public on November 26. Home to some of the latest store concepts for the likes of Woolworths, Checkers, Dis-Chem and Builders Warehouse, Castle Gate was built with the... →

Photo by Simone Liedtke
The new Castle Gate lifestyle centre

Arrowhead records solid full-year performance

By: Tasneem Bulbulia 25th November 2020 Diversified South African real estate investment trust Arrowhead Properties says it performed ahead of expectations in a tough economic environment during the financial year ended September 30. At period end, Arrowhead directly owned 143 commercial properties in South Africa (split 50% retail,... →

Kwikspace appoints Steinberg CEO, FD

By: Tasneem Bulbulia 25th November 2020 Modular buildings manufacturer Kwikspace has announced the permanent appointment of its new CEO and FD, Dirk Steinberg. Having joined the company in 2014 as FD and executive officer, Steinberg has a wealth of business experience, the company says. →

Saice launches career growth platform for engineers

By: Donna Slater 25th November 2020 The South African Institution of Civil Engineering (Saice) has launched an innovative new platform – Saice Connect – that enables its members to network and engage with potential employers and like-minded individuals. The platform is designed to bridge the gap between skills shortages in many... →

Surging Covid-linked borrowing costs pose threat to Africa’s energy transition

By: Terence Creamer 24th November 2020 The surge in borrowing costs affecting most African countries in the wake of the economic and fiscal harm that has accompanied the Covid-19 pandemic poses a serious risk to the much-needed recovery in energy investment across the continent, which is set to collapse by 30% in 2020. International... →

IEA executive director Dr Fatih Birol

Growthpoint invests further in Woodmead

By: Tasneem Bulbulia 24th November 2020 JSE-listed real estate group Growthpoint Properties says it is attracting new business to Woodmead, Sandton, with its significant R290-million investment programme that improves public infrastructure and the company’s strategic assets in the area. Growthpoint owns and operates about 250 000 m2 of... →

Western Cape launches Municipal Energy Resilience project

By: Donna Slater 24th November 2020 The Western Cape government has launched its three-year Municipal Energy Resilience (MER) project to assist municipalities to take advantage of the new energy regulations, which may include buying energy directly from independent power producers (IPPs). →

Nedbank provides financing options for solar power

By: Tasneem Bulbulia 24th November 2020 Banking institution Nedbank is exploring financing options for solar photovoltaic (PV) installation for homeowners and has implemented several options for businesses wanting to install solar PV plants. Nedbank Home Loans strategy head Bruno Cing’andu noted during a November 24 webinar, hosted by... →

De Ruyter calls for upscaling of power procurement plans as he questions whether coal IPP will proceed

By: Terence Creamer 24th November 2020 Eskom CEO Andre de Ruyter has again called on government to open the way for the procurement of more new electricity capacity in addition to the 11 800 MW outlined in a recently gazetted Ministerial determination, cautioning that the 1 500 MW of new coal included in the determination is unlikely... →

Photo by Creamer Media's Donna Slater
Eskom CEO Andre de Ruyter

Nersa sets Feb 5 deadline for written comment on proposed nuclear determination

By: Terence Creamer 23rd November 2020 The National Energy Regulator of South Africa (Nersa) has given stakeholders until February 5 to comment on a Section 34 determination received from Minerals Resources and Energy Minister Gwede Mantashe for the procurement of new nuclear capacity post-2030. The draft determination delivered to... →

Aveng says it will respond to Sanral's statements following Supreme Court decision

By: Tasneem Bulbulia 20th November 2020 JSE-listed Aveng says it has taken note of the South African National Roads Agency Limited's (Sanral's) statement on November 18 that the Supreme Court of Appeals (SCA) had dismissed an appeal to prevent the agency from claiming guarantees from the Aveng-Strabag Joint Venture (JV) in relation to... →

Emira continues investment in renewable energy

By: Donna Slater 20th November 2020 JSE-listed real estate investment trust (Reit) Emira Property Fund has been increasing its use of renewable energy since the 2015 installation of a 271 kW solar plant on the roof of its Epsom Downs Shopping Centre, in Bryanston. Since then the company has been continuing the rollout of solutions... →

Emira's Boskruin photovoltaic installation

Two new engineering programmes introduced at the University of Zululand

By: Irma Venter 20th November 2020 The University of Zululand (UNIZULU) has established two new engineering degree programmes within its curriculum. From next year, the university will offer Bachelor degree programmes in mechanical engineering and electrical engineering at its Richards Bay Campus. →

IBT construction reduces cost, time

By: Mc'Kyla Nortje 20th November 2020 Student accommodation group STAG African says it can reduce construction time and costs for student accommodation using innovative building technology (IBT) – a first for Africa. “By using such technologies, developers can reduce building time by 40%, which has the effect of reducing associated... →

BUILDING CONSENSUS When the industry becomes more satisfied with this approach to building, and realises the cost benefits of IBT, the uptake of IBT in construction will increase

Bridge takes top spot at Steel Awards

By: Mc'Kyla Nortje 20th November 2020 The new V&A Swing Bridge took top honours at the Southern African Institute of Steel Construction’s (SAISC’s) inaugural virtual Steel Awards last month. “Ingenuity, creativity and excellence were showcased during the live stream event, with the coveted titles of Overall Winner and Bridge Category... →

FAR AND WIDE The new swing bridge spans 40 m and the deck is cable-stayed, with a single plane of four locked coil cables connecting to a central, upstand spine beam

Increased use of light steel frame

By: Mc'Kyla Nortje 20th November 2020 There is a significant increase in the use of light steel frame (LSF) in construction – despite it still being a relatively new building material in the South African market. This increase is mostly owed to the multitude of benefits it offers over traditional building methods, says LSF... →

FAR AND WIDE Futurecon plans to keep expanding the use of LSF in the large-scale commercial sector

Covid-19 will not affect current capex, but future projects dependent on recovery, says Trac

By: Irma Venter 20th November 2020 The Covid-19 pandemic will not affect the roll-out of the current R1.6-billion worth of capital projects along the N4, says Trans African Concessions (Trac) CEO Alex van Niekerk. Trac manages the N4 Toll Route between Tshwane, Gauteng, and the Maputo port, in Mozambique. →

World Bank says ‘flagship’ Eskom battery scheme to open way for private investment in the technology

By: Terence Creamer 19th November 2020 The World Bank reports that Eskom’s large-scale battery energy storage initiative, which will involve the installation of battery energy storage systems (BESS) across up to eight sites, is being treated as a “flagship” initiative by the global development finance institution, which has committed... →

The Skaapvlei site, with the Sere wind farm in the background

New investment pledges of R109.6bn unveiled at hybrid investment conference

By: Terence Creamer 18th November 2020 Investment pledges of R109.6-billion were unveiled at the third South African Investment Conference on Wednesday, increasing the total value of commitments made since 2018 to R773.6-billion, or more than 60% of the R1.2-trillion target set by President Cyril Ramaphosa three years ago. Speaking at... →

Ramaphosa stresses South Africa’s gateway-to-Africa role as he seeks to reignite investment amid Covid

By: Terence Creamer 18th November 2020 President Cyril Ramaphosa used the platform of the third South Africa Investment Conference to underline the country’s potential to act a gateway to the African market, as he sought to reignite investor interest in an economy that has been underperforming for more than a decade and has been... →

Photo by Creamer Media's Donna Slater
President Cyril Ramaphosa

Indluplace weathers Covid-19 storm with strong balance sheet

By: Donna Slater 18th November 2020 Despite the human and economic impact of the Covid-19 pandemic, high demand for its properties drove affordable residential letting company Indluplace Properties’ to maintain a strong balance sheet and steady cash generation for the financial year ended September 30. A dividend of 44.02c apiece... →

Property market faces multitude of issues

By: Donna Slater 18th November 2020 South Africa’s poor economic state, which is described as “bleak”, is set to persist, and will continue to have a negative and disrupting impact on the property and housing market, property consultants, valuers and town planners Rode & Associates CEO Erwin Rode has said. Speaking during a... →

Ghana urges African governments to allow some independence in mining investment decisions

By: Simone Liedtke 18th November 2020 Allowing a degree of independence when investment institutions decide on investments with commercial principles, is “a model that other African countries may want to consider replicating,” Ghana Infrastructure Investment Fund (GIIF) CEO Solomon Asamoah urged on November 17. He said this model... →

Britain to ban new petrol cars and vans by 2030 on road to net zero emissions

By: Reuters 18th November 2020 Britain will move up a ban on new petrol and diesel cars and vans to 2030 and is eyeing 250 000 new jobs as part of a green industrial revolution, Prime Minister Boris Johnson said as he tries to meet Britain's net zero emissions climate target. Johnson is seeking to show his government is on... →

More than 60 power firms signal intention to bid into ‘emergency’ scheme – IPP Office

By: Terence Creamer 17th November 2020 South Africa’s Independent Power Producer (IPP) Office reported on Tuesday that more than 60 respondents had signalled their intention, by the October 31 deadline for doing so, to participate in the Risk Mitigation Independent Power Producer Procurement Programme (RMIPPPP), through which... →

Photo by Creamer Media's Donna Slater
IPP Office CEO Tshifhiwa Bernard Magoro

Eskom moves to finalise just energy transition framework as shutdown of Grootvlei, Komati and Hendrina draws near

By: Terence Creamer 17th November 2020 State-owned power utility Eskom expects to complete its socioeconomic impact studies by the end of March for the planned shutdown of the Grootvlei, Komati and Hendrina power stations, in Mpumalanga, which are the first of ten coal plants scheduled for decommissioning by 2040. The decommissioning... →

WBHO sees plunge in profit as Covid-19, loss-making projects take toll

By: Irma Venter 17th November 2020 Wilson Bayly Holmes-Ovcon (WBHO) on Tuesday reported a massive turnaround in fortunes from 12 months ago when it boasted R513-million in operating profit for the year ended June 30, to a position where it suffered an operating loss of R585-million. Group CEO Wolfgang Neff cited the main reasons... →

OTGC abandons plan to develop Ngqura liquid bulk storage terminal on viability concerns

By: Creamer Media Reporter 17th November 2020 Joint venture company Oiltanking Grindrod Calulo (OTGC) has decided not to proceed with the development of a liquid bulk storage terminal in the Port of Ngqura. The Transnet National Ports Authority (TNPA) in 2011 awarded OTGC preferred bidder status to develop a liquid bulk storage terminal in... →

Municipalities have integrated 282 MW of embedded power and see benefits in embracing transition

By: Terence Creamer 16th November 2020 A total of 29 South African municipalities have already approved tariff frameworks for small-scale embedded generation (SSEG), with 282 MW of mostly rooftop solar capacity having be formally integrated into municipal networks, the South African Local Government Association (Salga) reports. The... →

Kangnas Wind Farm starts commercial operations

By: Donna Slater 16th November 2020 The Kangnas Wind Farm on November 15 achieved its commercial operations date, making it the first Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) Bid Window 4 wind farm in the Northern Cape to come on stream. Construction started in June, 2018 but was halted by the... →

The Northern Cape-based Kangnas Wind Farm

Octodec records reduced income, defers dividend decision to 2021

By: Donna Slater 16th November 2020 Against a weakening economic environment, the sovereign downgrade in March and the Covid-19 pandemic, JSE-listed real estate investment trust Octodec Investments recorded a 22% reduction in distributable income for the financial year ended August 31 and has deferred its decision to declare a... →

Global Water Partnership Southern Africa teams up with DBSA to realise water projects

By: Marleny Arnoldi 13th November 2020 The Global Water Partnership Southern Africa (GWPSA) and the Development Bank of Southern Africa (DBSA) have signed a memorandum of understanding (MoU) that seeks to promote investment and collaboration for water and sanitation projects in the Southern Africa region. The MoU was signed by... →

Collaboration could eliminate challenges

By: Mamaili Mamaila 13th November 2020 Although the construction industry offers many opportunities for collaboration between consultants and contractors, these opportunities are often not fully explored. “This results in contractual disagreements, and a disjointed and misaligned approach to projects,” says demolition expert Jet... →

KATE BESTER It would be beneficial if contracting and consulting firms were to align their personnel development strategies and actively encourage young engineers to explore these aspects in the industry, within defined frameworks

Sector recovery lies in collaboration – says cement maker

By: Marleny Arnoldi 13th November 2020 The construction sector remains under pressure, despite the easing of the national lockdown to Level 1, and contractors need to work with materials suppliers to remain cost competitive, says construction materials company AfriSam. →

AfriSam readymix GM Amit Dawneerangen shares his insight on the state of the construction industry

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