Displaying items by tag: Cape Town

Currently ranked No 1 in the chemicals supersector of the Dow Jones Sustainability Index (DJSI), leadership through sustainability is a critical element to AkzoNobel's long-term, competitive advantage strategy.

Published in Construction Industry
Thursday, 28 November 2013 16:35

Cosatu pursues 'construction corruption'

Cosatu says it has received a case number from the Hawks for the criminal charges it laid against 15 construction companies recently fined R1.46bn by the competition authorities.

Published in Construction Industry
Wednesday, 20 November 2013 16:53

WBHO denies collusion on profit

WBHO chairman Mike Wylie emphasises that construction firms had not agreed on high profit margins for the construction of stadiums and facilities ahead of the 2010 Soccer World Cup.

Published in News

New houses in Cape Town will be required to have windows that face onto the street as a means of providing 'passive surveillance' and improving safety.

Published in Construction Industry
Friday, 04 October 2013 12:49

Demolishing Cape Town Stadium not an option

The city revealed in May that Cape Town Stadium's total operating costs since 2009-10 stood at about R436m‚ while total income was R92m.
Published in Company News

Processes are underway to improve the financial viability of the Cape Town stadium.

Published in Company News

City of Cape Town council says that plans are already in place to tackle the delays caused to its various capital projects as a result of the construction workers’ strike.

Published in Construction Industry

Construction of West Coast One, a 94MW wind farm near Cape Town, is expected to start as soon as the project’s developers reach financial close.

\"\\"Renewable\"West Coast One is among the successful bidders of the second round of the Department of Energy’s independent power producer (IPP) procurement programme. Round two has seen more than 1GW of power generation projects given the green light as part of the department’s goal to generate 3.7GW of electricity from renewable sources including wind, solar and hydro.

The wind farm is located 130km north of Cape Town.

Close to 305 jobs will be created during the construction phase of the project, while 30 permanent jobs will be made available during the wind plant’s operation.

It is a partnership between global energy firm GDF Suez, which holds 43%, Investec, which holds 34.5%, black-owned investment group Kagiso Tiso Holdings, which owns 20%, while the remaining shareholding in the project will be owned by a community trust.

First power generation is expected to start in 2015.

Investec announced yesterday it would act both as investor and lender in the project. The company will underwrite the R1.5bn debt that will be required to complete the project in partnership with Nedbank.

“Given the unprecedented debt and equity financing requirements of the renewable programme, Investec will continue to utilise its capacity to provide debt and equity financing in support of this impressive governmental initiative,” Investec head of project and infrastructure finance Fazel Moosa said.

RustMo1 solar plant in North West is the first project, from the inaugural round of the procurement programme, that is expected to go on commission by year-end.

Last month, Eskom obtained the energy regulator’s approval to build a R2.4bn wind farm in the Western Cape, that will generate about 100MW of electricity by next year.

Industrial group Siemens will build and install the wind turbine generators, and it will in turn hand them over to Eskom to run.

The first power will come onstream during the first half of next year, and will be well ahead of the 4.8GW Kusile coal-fired power station that Eskom is building at an estimated cost of R170bn in Mpumalanga.

SA’s renewable energy drive has drawn the attention of multinational companies and local entities, with both rounds of the IPP procurement programme being oversubscribed. The third leg of the bidding process for the remaining 1,300MW is expected to open in August.

Opening the request for proposals last month, Energy Minister Dipuo Peters said preferred bidders would have to keep to the commitments made about pricing, and ensure local procurement and black economic empowerment.

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