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Latest News

Burkino Faso to sell telecoms company

30th November 2001 West African country Burkina Faso plans to sell most of its State telephone company, with 34% earmarked for a partner which will manage and modernise the business, the trade minister said. 

SA telco to exceed empowerment targets

30th November 2001 State-run phone utility Telkom was likely to far exceed its Black Economic Empowerment (BEE) spend target of R1,8-billion for the current financial year, having already spent R1,2-billion in the year from April 1 to date, said procurement executive Khosi Ndlovu. 

Consolidation era for consulting engineers

29th November 2001 The consulting engineering fraternity will probably experience an era of mergers and acquisitions, and many consulting engineering firms, especially small and medium-sized enterprises will probably re-evaluate their focus and not try to be all things to all people, says South African Association... 

Saudi pipes firm invests R50m in SA

29th November 2001 The Saudi Arabian Amiantit group has expanded into the South African pipe market with a R50-million investment comprising acquisitions and the establishment of a new manufacturing facility in Alrode, Alberton. 

$2bn Angolan gas project delayed

29th November 2001 The merger of US firm ChevronTexaco and efforts to add partners to a proposed $2-billion liquid natural gas (LNG) plant in Luanda have delayed the project by at least a year, the company’s MD in Angola said. 

Nigerian telecoms deal finally signed

29th November 2001 An agreement to buy control of Nigerian State telecoms company Nitel was signed on Wednesday by Investors International (London) (IIL), ending a week-long wrangle during which the $1,3-billion deal seemed in danger of collapsing. 

SA aeronautics firm wins big global order

29th November 2001 Aircraft manufacturer Boeing has announced the signing of a deal with aeronautics company Aerosud to make aircraft parts in South Africa, the latest in a series of moves to make its business more global. 

Black-empowerment trend picks up speed in consulting engineering

28th November 2001 South African Association of Consulting Engineers (Saace) executive director Graham Pirie says the recent merger between black-owned consulting firm Goba Moahloli & Associates and well-established consultancy Keeve Steyn is the latest in a trend which is set to continue. 

One word could scupper Nigeria telecoms deal

28th November 2001 Nigerian president Olusegun Obasanjo was expected to rule on whether a disagreement over one word was enough to call off a $1,317 billion deal to sell control of State telecoms company Nitel to a group allied with Portugal Telecom 

Resources group announces big oil production boost

28th November 2001 No longer seeking a marriage with fellow Australian oil company Woodside Petroleum, BHP-Billiton mapped out a heady growth strategy to increase oil production by 5,5% a year. 

Minister approves price cap for SA telecoms monopoly

28th November 2001 The South African communications regulator said it would implement a new price cap for Telkom that was lower than the fixed-line phone monopoly had planned. 

Pebble Bed Modular Reactor, Western Cape and Gauteng

28th November 2001 A conference co-hosted by the International Atomic Energy Agency and the Department of Minerals and Energy in Cape Town last week came at a time when South Africa is grappling with the issue of expanding the role of nuclear technology and the expansion of nuclear power worldwide is looking more... 

State tax incentive rules published

By: Terence Creamer     27th November 2001 Regulations for the long-awaited tax incentive in support of South African industrial-development projects have been published in the Government Gazette. 

Gas entering Southern African energy mix

By: Terence Creamer     27th November 2001 The poverty-stricken Southern African country of Mozambique is set to receive more than $2-billion in royalties and taxes over the life of the $1,2-billion natural gas project being developed by South Africa’s petrochemical giant Sasol. 

$220 m hydro project for Congo river

27th November 2001 A $220-million hydroelectric power plant will be constructed by China National Machinery and Equipment Import and Export Corporation (CMEC) and the China International Enterprise Co-operative Corporation on the Congo River. 

Development plans on cards for Nigeria’s oil territories

27th November 2001 The European Union (EU) and a Nigerian government development agency are scheduled this month to launch separate plans to develop the troubled oil-producing region of Nigeria. 

Plastic-bag ban will lead to 3 500 job losses

26th November 2001 As many as 3 500 workers in the plastic industry could lose their jobs following Cabinet’s approval of legislation that will see the banning of the use of thin plastic shopping bags, according to the Plastics Federation of South Africa. 

North West to get R808m investment injection

26th November 2001 The fastest-growing province in South Africa, the North West Province, will receive R808-million following the signing of a number of capital investment deals at the Invest North West International Investors Conference. 

Oil, gas majors show interest in Algerian projects

26th November 2001 An Algerian invitation to tender for the development of five key oil and gas projects has attracted the interest of 14 international firms, including world oil majors such as BP Amoco and TotalElfFina, officials said. 

Nigeria to get bigger slice of oil profits

23rd November 2001 Oil majors operating in Nigeria have agreed to increase the Nigerian government’s share of oil profits to 30% from the present 20%, State-run Nigerian National Petroleum Corporation (NNPC) said. 

Head of Swiss-Swedish giant bows out

23rd November 2001 The man who created Europe’s biggest electrical engineering group, ABB out of the 1988 merger of Swedish and Swiss firms, Percy Barnevik, stepped down to take the blame for ABB’s share price plunge. 

Forest restructuring: seeing the wood for the trees

23rd November 2001 While the privatisation process of South Africa's State-owned assets, such as Telkom and Transnet, remain plagued by delays, the wheels are at least starting to roll for the sale of the country's commercial forests. 

Coega viability study next week

23rd November 2001 The government has given an environmental green light for the Coega Industrial Development Zone and the Port of Ngqura Project. 

SA firm signs deal with steel’s fourth

23rd November 2001 South African steel producer Iscor announced that it had formally signed a business assistance agreement (BAA) with LNM Holdings (LNM), a member of the LNM Group, the world’s fourth-largest steel producer. 

Nigeria pulls out of telecoms deal at last minute

22nd November 2001 Nigeria on Thursday postponed at the last minute the signing of a deal to sell a majority interest in state telecoms company Nitel for $1.317 billion to a consortium allied with a unit of Portugal Telecom. 

EU steel industry lays dumping charge

22nd November 2001 A European steel industry body said it had complained to the European Commission about alleged dumping of hot-rolled coil steel by Egypt, Iran, Libya, Slovakia, Turkey and Hungary. 

Egypt moves to curb imports

22nd November 2001 Egypt’s cabinet has announced further measures to restrict imports and conserve foreign exchange reserves during an economic downturn. 

Steel, mining unbundling approved

22nd November 2001 Shareholders in Iscor approved a package of resolutions that will result in the unbundling of Iscor into two independent steel and mining companies. 

Cabinet approves SAA share repurchase

22nd November 2001 The Minister of Public Enterprise, Jeff Radebe, yesterday announced that the Cabinet has approved the repurchase of the 20% stake in South African Airways (SAA) held by Swissair. 

Wired and wireless soultions needed to bridge ‘digital divide’

21st November 2001 One of the best solutions assisting developing countries in bridging the digital divide is using ‘wiloptics’, says Harris Technologies vice-president technology Dr Kwame Boakye. 

Oil giant plans to double output at Angola refinery

21st November 2001 French giant TotalFinaElf aims to increase capacity at its oil refinery outside Luanda by roughly half to an annual throughput of three-million tons of crude by 2004, a senior company official said. 

Preferred bidder announced for R1bn IT project

21st November 2001 South Africa’s first information technology (IT) public-private partnership (PPP) has received a significant boost as the Department of Labour announced the Siemens Business Service Consortium as the preferred bidder for the provision of IT/IS services and support to enhance the... 

Defence procurement deal spurs multibillion-rand forestry venture

21st November 2001 In one of South Africa’s largest National Industrial Participation (Nip) initiatives linked to South Africa’s strategic defence procurement programme, BAE Systems-Saab has teamed up with US-based Global Environment Fund and Mondi in a venture set to generate more than R5-billion in... 

Alexandra Renewal Project, Gauteng

21st November 2001 Tenders closed on November 16 for the earthworks and civil services contract for the transit village for the Alexandra Renewal project. 

Africa must be realistic about telecoms – Naidoo

20th November 2001 Investment, or rather the lack thereof, is one the major deterrents to the development of communications infrastructures and services in Africa – in many ways lack of investment has also created the ‘digital divide’. 

Credit firm adjusts country ratings

20th November 2001 The country’s largest and oldest credit insurer, Credit gurantee, has rerated certain countries in its portfolio. 

UK in big gas development off Gaza strip

20th November 2001 British Gas will invest $400 million to develop natural gasfields off the shores of the Palestinian-controlled Gaza Strip, Israel’s daily Maariv reported. 

SA electrical group in R105m R&D drive

By: Terence Creamer     20th November 2001 Electronics and electrical engineering company, Reunert, will spend a significant R105-million on research and development (R&D) projects during the next financial year. 

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