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Construction News

Uganda power distributor Umeme to spend $1.2bn to expand grid

By: Reuters     16th May 2018 Ugandan power distributor Umeme plans to spend $1.2-billion in the next seven years to revamp and expand the grid and has hired an adviser to explore options for raising the money, the company's chief executive said on Wednesday. The investments will be used to prepare for an expected rise in... 

Gordhan outlines his plan for the ‘recapture’ of South Africa’s SoCs

16th May 2018 The full text of Public Enterprises Minister Pravin Gordhan’s Budget Vote speech to Parliament on May 15. In it, the Minister warns that it has become evident that several State-owned companies (SOCs) will not be able to trade and borrow their way out of their financial difficulties and that some... 

Gordhan outlines his plan for the ‘recapture’ of South Africa’s SoCs
Public Enterprises Minister Pravin Gordhan

Rebosis concludes agreement to sell six office buildings for R888m

By: Simone Liedtke     15th May 2018 Rebosis Property Fund has, through its Ascension Properties subsidiary, concluded an agreement with Boxwood Property Investment Fund for the sale of six office buildings for R888-million. The properties include 14 Long Street, 45 on Castle, Bergstan Building, Matrix Building, Nedbank Building and... 

Eskom says it intends to play a bigger role in Africa

By: Kim Cloete     15th May 2018 Eskom interim CEO Phakamani Hadebe says the utility is keen to expand its services into other African countries.  “We have made a decision that our ambition is to play a bigger role on the continent,” he told the opening plenary of African Utility Week, in Cape Town, on Tuesday. 

1 000 new nuclear reactors needed to meet global energy demand by 2050 – WNA

By: Anine Kilian     15th May 2018 The world will need to build 1 000 new nuclear reactors to meet global energy demand by 2050, World Nuclear Association (WNA) Harmony Programme adviser Jeremy Gordon said at AtomExpo, in Sochi, Russia, on Monday. He added that nuclear power was in the past 25 years growing at the fastest rate... 

Sinosteel to invest $1bn in Zimbabwe, lift ferrochrome output

By: Reuters     15th May 2018 China's Sinosteel Corporation has agreed to invest $1-billion in Zimbabwe to build a power plant and increase ferrochrome output, the Southern African country's President Emmerson Mnangagwa said on Monday. Sinosteel president Andong Liu said the Chinese firm planned to build three additional... 

Equatorial Guinea may strip Ophir of LNG project due to finance delays

By: Reuters     14th May 2018 Equatorial Guinea will force Ophir Energy out of the company's flagship liquefied natural gas (LNG) project and may scrap it entirely unless long-delayed financing deals worth $1.2-billion are presented to the government by December. The ultimatum is a blow to UK-listed Ophir, which has set aside... 

Calgro M3 confident of securing longer-term working capital

By: Marleny Arnoldi     14th May 2018 Property developer Calgro M3 reported a worse-than-expected financial performance for the year ended February 28, owing to challenging political and associated economic conditions, as well as delays in raising working capital.  

Calgro M3 confident of securing longer-term working capital
Photo by Creamer Media
Calgro CEO Wikus Lategan

Balwin expects sales to grow in FY19, after zoning delays hampered its FY18 performance

By: Marleny Arnoldi     14th May 2018 Housing development company Balwin Properties’ performance for the financial year ending February 28 was largely impacted on by delays in construction at its five latest developments.  

Balwin expects sales to grow in FY19, after zoning delays hampered its FY18 performance
Balwin Properties CEO Steve Brookes

Atlantis SEZ designation to be completed in two months

By: Marleny Arnoldi     14th May 2018 The process of designating the Atlantis Special Economic Zone (SEZ) is to be completed within two months, says Trade and Industry Deputy Minister Bulelani Magwanishe.  

Atlantis SEZ designation to be completed in two months
Trade and Industry Deputy Minister Bulelani Magwanishe at a business engagement session

R10bn budget slash for human settlements dept 

By: News24Wire      11th May 2018 The Department of Human Settlements is on the receiving end of a R10-billion budget cut over the medium term period. This, while the housing backlog stands at an estimated 2.1-million. Addressing a media briefing ahead of her budget vote speech, Human Settlements Minister Nomaindia Mfeketo said:... 

AfriSam anchor sponsor for Fulton Awards

By: Jessica Oosthuizen     11th May 2018 Leading concrete materials supplier AfriSam is the anchor sponsor for the 2019 biennial Fulton Awards, hosted by nonprofit organisation the Concrete Society of Southern Africa (CSSA). According to AfriSam, the event recognises the possibilities that concrete structures create for society and,... 

AfriSam anchor sponsor for Fulton Awards
INNOVATIVE INFRASTRUCTURE The Fulton Awards is an event that honours excellence and innovation in the design and use of concrete

Gas conditioning systems remain in high demand

By: Jessica Oosthuizen     11th May 2018 As global pressure to reduce emissions mounts, owing to more stringent legislation, there remains a high demand for spray nozzle and spraying system manufacturer Lechler’s VarioCool Gas Conditioning systems in the cement producing industry, says Lechler representative in Southern Africa... 

Gas conditioning systems remain in high demand
STEVE SMITH Industrial Nozzles and Systems’ scope of supply to the cement industry has more than tripled in the last four to five years

Stakeholders remain hopeful of growth in local cement industry

By: Jessica Oosthuizen     11th May 2018 Various players in the cement and concrete industry say the sector is hoping and expecting that there will be improvements in the industry after being impacted on negatively for several years. Cement producer PPC technical information services specialist Hanlie Turner notes that the concrete... 

Stakeholders remain hopeful of growth in local cement industry
Photo by Bloomberg
CRUCIAL CONSTRUCTION The upgrade and development of infrastructure is crucial to the sustainability of the cement and concrete industry

Decorative concrete market looking good

By: Jessica Oosthuizen     11th May 2018 Decorative concrete solutions can raise the aesthetic value of both new projects and renovations, and construction chemicals company Chryso Southern Africa is participating in the market to supply such solutions for aesthetic and practical applications, company CEO Norman Seymore tells... 

Decorative  concrete market looking good
LUMINESCENT LUMINTECH This technology contains particles that are incorporated into the concrete skin and glow in the dark

Substantial need for skills development

By: Jessica Oosthuizen     11th May 2018 There is a massive need for skills development in the construction industry, particularly in the concrete industry, says cement and concrete technical services provider The Concrete Institute (TCI) MD Bryan Perrie. “However, with relatively little work available and companies retrenching... 

Substantial need for skills development
Photo by Bloomberg
CONCRETE FLOORS Bryan Perrie will present a workshop about typical problems associated with concrete industrial floors at the Totally Concrete Expo

R11.6bn in fines and merger conditions secured since 2010, Patel reports

By: Terence Creamer     10th May 2018 Economic Development Minister Ebrahim Patel reports that R11.6-billion has been mobilised as a result of cartel settlements and conditions placed on firms that have pursued mergers and acquisitions in South Africa since 2010, with commitments worth a further R11-bilion have been secured in... 

R11.6bn in fines and merger conditions secured since 2010, Patel reports
Photo by Creamer Media
Economic Development Minister Ebrahim Patel

Equites reports strong FY18 distribution growth

By: Marleny Arnoldi     10th May 2018 Real estate investment trust (Reit) Equites Property achieved 12.2% year-on-year growth in distributions a share to R1.23 for the financial year ended February 28 – cementing the company’s record of strong distribution that exceeds full year guidance.  

Equites reports strong FY18 distribution growth
Equites Property CEO Andrea Taverna-Turisan

Radebe links IRP certainty to Ramaphosa’s $100bn investment drive

By: Terence Creamer     10th May 2018 The long awaited update to South Africa’s Integrated Resource Plan (IRP) will be presented to Cabinet for its approval on August 15, Energy Minister Jeff Radebe confirmed on Thursday, adding that the document would provide much-needed certainty for investors in the electricity sector. The... 

Radebe links IRP certainty to Ramaphosa’s $100bn investment drive
Photo by Dylan Slater
Energy Minister Jeff Radebe

Vukile grows Spanish retail investment to near €400m

By: Simone Liedtke     10th May 2018 Vukile Property Fund has, through its 98.7%-owned Spanish real estate investment trust (Reit) subsidiary Castellana Properties, acquired Habaneras Shopping Centre, its first shopping centre in Spain, for €80.6-million. The easily accessible open-air shopping centre is in Torrevieja, in the... 

Vukile grows Spanish retail investment to near €400m
Habaneras Shopping Centre, in Spain (Exterior)

Aurecon strengthens Gauteng Built Environment team with new unit leader

By: Simone Liedtke     9th May 2018 Recognising the increasing pressure on the built environment from growing populations and development in African countries, global engineering and infrastructure advisory company Aurecon has appointed Kolosa Madikizela as its unit leader for the built environment, in Gauteng. “African skylines... 

Long4Life declares maiden dividend

By: Simone Liedtke     9th May 2018 Long4Life, which has raised R2-billion in capital since its listing on the JSE in April last year, has declared a maiden dividend of 5.4c a share for the 11 months to February 28. The company on Wednesday reported that it had, in the period under review, acquired Sportsmans Warehouse, Outdoor... 

Irregular expenditure at water department rockets to R6.4bn 

By: African News Agency      9th May 2018 The office of South Africa’s auditor-general on Wednesday told parliament that irregular expenditure at the department of water and sanitation had rocketed to R6.4-billion. The AG’s office said that the irregular expenditure at the department was significantly high around 2014/15 and 2016/17... 

Irregular expenditure at water department rockets to R6.4bn

Alstom completes tram line in Algerian city

By: Marleny Arnoldi     9th May 2018 French multinational Alstom has completed the first tram line for the city of Sétif, in Algeria.  

Alstom completes tram line in Algerian city
Alstom tram line for Ouargla, Algeria

Indluplace portfolio grows 82% y/y, despite challenging environment

By: Simone Liedtke     9th May 2018 Despite having faced a challenging operating environment in 2017, residential-focused real estate investment trust (Reit) Indluplace has grown the value of its portfolio by 82% year-on-year to R4-billion at the end of the six months ended March 31. This follows the Buffet portfolio acquisition,... 

Growthpoint Investec African Properties commences operations

By: Anine Kilian     9th May 2018 Pan-African real estate investment business Growthpoint Investec African Properties (GIAP), a partnership between Growthpoint Properties, Investec Asset Management and the International Finance Corporation, has started operations. GIAP has secured capital commitments in excess of $212-million... 

AfDB officially launches Africa Investment Forum

By: Anine Kilian     8th May 2018 The African Development Bank (AfDB) on Tuesday launched its Africa Investment Forum (AIF), which will seek to attract investment and public–private partnerships aimed at transformative development on the continent. “The AfDB is championing the AIF as a platform to actively engage the private... 

Hyprop raises R782m in oversubscribed bookbuild

By: Simone Liedtke     8th May 2018 JSE-listed Hyprop on Tuesday raised R782.6-million in an accelerated bookbuild. The company had initially sought to raise about R600-million to reduce its debt. 

Rebosis posts solid interim results

By: Simone Liedtke     8th May 2018 JSE-listed Rebosis on Tuesday said its retail and office portfolio delivered 6.8% net property income growth in the six months ended February 26, 2018, with positive rent uplift on renewals that indicate good property fundamentals. The company’s value in the underlying portfolio grew by 17.9% to... 

GDID announces multibillion-rand infrastructure project pipeline under revamped processes

By: Natasha Odendaal     8th May 2018 The Gauteng Department of Infrastructure Development (GDID) has unveiled the first consolidated pipeline of projects that have been rigorously tested through its newly developed project toolkit. Over the past two years, the department has been refining its back-office delivery processes to ensure... 

GDID announces multibillion-rand infrastructure project pipeline under revamped processes
Photo by Creamer Media
Gauteng Infrastructure Development MEC Jacob Mamabolo

Zambia to complete 50 MW World Bank solar project in September

By: Reuters     8th May 2018 Zambia will complete its first large-scale 50 MW solar power generation plant in September this year as the nation battles a power deficit which threatens industrial output, a state-owned agency said on Tuesday. The electricity shortfall has forced Africa's second-largest copper producer to... 

Emira grows its US footprint

By: Simone Liedtke     8th May 2018 Real estate investment trust (Reit) Emira Property Fund has invested in its fourth shopping centre in the US. The company has undertaken its fourth equity deal in the US with its in-country partner, the Rainier Group of Companies, by acquiring 49% of the equity of Indiana-based Stony Creek... 

LafargeHolcim Q1 core profit falls, keeps targets

By: Reuters     8th May 2018 LafargeHolcim reported a 13% fall in first-quarter earnings as the world's largest cement maker embarks on its new strategy under new Chief Executive Jan Jenisch. The Swiss company said recurring earnings before interest, tax, depreciation and amortisation fell to 700-million Swiss francs... 

TFR shuts Natcor line for maintenance

By: Schalk Burger     7th May 2018 Transnet Freight Rail (TFR) will shut down the Natal Corridor (Natcor) line, from Rietvlei, Gauteng, to the Durban Harbour, from May 8 to 14 for maintenance and refurbishment. The shutdown schedule will encompass a partial shut from May 8 to 10, meaning there will be a reduced service, while... 

Redefine maintains full-year distribution growth guidance at 5%

By: Marleny Arnoldi     7th May 2018 JSE-listed real estate investment trust Redefine Properties has declared a distribution of 47.3c a share for the six months ended February 28, a 5.5% improvement on the 44.8c a share for the comparable period in 2017, maintaining the company’s full-year growth guidance.  

Redefine maintains full-year distribution growth guidance at 5%
Redefine Properties CEO Andrew Konig

Raubex closes two businesses amid low govt infrastructure spend

By: Anine Kilian     7th May 2018 JSE-listed construction group Raubex has closed two businesses – L&R Civils and Strata Civils – as government spend on infrastructure remains low. Reporting its results for the financial year ended February 28, on Monday, Raubex said challenging market conditions in the South African construction... 

South Africa urged to consider CSP-PV blend to lower cost of dispatchable solar generation 

By: Terence Creamer     7th May 2018 International technology and infrastructure group Abengoa, which has developed a portfolio of three concentrated solar power (CSP) projects in South Africa, believes blending CSP with solar photovoltaic (PV) technology is the logical next step for lowering CSP costs, while also producing... 

South Africa urged to consider CSP-PV blend to lower cost of dispatchable solar generation
The 100 MW XiNa Solar One parabolic-trough CSP power station in the Northern Cape

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