More than two years since G7 Renewable Energies and EDF Renewables were announced as preferred bidders in the Risk Mitigation Independent Power Producer Procurement Programme (RMIPPPP), their projects, totalling 203 MW, are finally gaining traction. The South African Wind Energy Association (SAWEA) on September 1 welcomed the news announcing the bidders’ legal close in the [...]

JSE-listed real estate investment company Fortress has increased its portfolio of direct real estate assets to R30-billion and achieved the lowest vacancy rate of 3.7% since its listing in October 2009. “At the core of this result is the continued capital recycling through the disposal of older, under-performing properties to fund new developments which are [...]

Industrial company Afro-Zonke has committed to investing R2.1-billion in the establishment of a chlor-alkali plant in the Midvaal area of Gauteng. The manufacturing facility is expected to have a production capacity of 50 000 t/y and will focus on the production of essential products such as caustic soda, chlorine, industrial hydrochloric acid, sodium hypochlorite, calcium [...]

Engineering News editor Terence Creamer discusses Mineral Resources and Energy Minister Gwede Mantashe's plan to take an updated Integrated Resource Plan through Cabinet processes soon and the latest update from the Department of Public Enterprises on Eskom's restructuring.

New Transnet chairperson Andile Sangqu has indicated that the troubled State-owned freight logistics group, which has hitherto prided itself on being financially self-sufficient, may require and equity injection to implement a turnaround strategy that is currently under development. The group reported a net loss of R5.7-billion for the 2022/23 financial year on the back of [...]

The Johannesburg Development Agency (JDA) has completed the southern section of the Modderfontein bridge project following an extensive period of rehabilitation and modernisation.  The upstream gabion works installed on the south bridge single cell have been extended and are now open and in use, relieving some of the past congestion from when the project started.

JSE-listed packaging group Nampak has received formal approval in respect of the R1-billion rights offer circular to be published on or around Monday, September 4. The subscription price of R175 a share represents a discount of about 23.49% to the 30-day volume-weighted average traded price of Nampak’s ordinary shares at close of business on August 30.

Cape Town Air Access, a multiagency initiative led by Western Cape provincial trade, investment and tourism promotion agency Wesgro, on Thursday released its latest figures on the economic benefits brought to Cape Town and the Western Cape by international air passengers arriving at Cape Town International Airport. Last year, 605 000 such passengers arrived at this [...]

Construction on The Fynbos development is set for completion at the end of next year, with the first apartments ready for occupation in early 2025. The R1.2-billion building is located in Bree street, in Cape Town’s central business district, with apartment prices starting from R1.15-million.

Two more preferred bidders selected as part of the much-delayed Risk Mitigation Independent Power Producer Procurement Programme (RMIPPPP), which was launched as an emergency procurement round in 2020, have signed project agreements signalling legal close and have until December to reach financial close. The projects, which have a combined investment value of R14.6-billion, are the [...]

Intergovernmental organisation the International Renewable Energy Agency (Irena) has confirmed in a new report that the 187 GW of renewable energy installed last year contributed to the global power sector saving fuel costs of $520-billion. The organisation says the fossil fuel price crisis has accelerated the competitiveness of renewable energy, with 86% of all the [...]

JSE-listed food service group Bidcorp increased group trading profits by 38.4% to R10.5-billion for the year ended June 30 and increased headline earnings a share by 35.4% to R20.82, up from R15.38 in the 2022 financial year. It also declared a final cash dividend of 500c a share, thereby increasing dividends for the 2023 financial year [...]