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Latest News

Algeria offers as project to foreign investors

8th May 2002 Algerian State-owned gas and oil firm Sonatrach will offer the 255-billion cubic metres Gassi Touil liquefied natural gas and condensate project for foreign investors to bid for it, company officials said. 

SA paper giant forecasts improving price trend

8th May 2002 Pulp and paper group Sappi’s headline earnings per share (EPS) for the three months to end-March rose 86% on the previous quarter and said it expected quarterly results to improve further on firming paper and pulp prices. 

Power electronics firm reports 11% rise in turnover

8th May 2002 One of the largest power electronics groups, Power Technologies, a member of the Altron Group and in Southern Africa, has reported a pleasing set of results with an increase in turnover from operations of 11,5% to R3,7-billion (R3,4-billion) for the year ended February 28. 

Plan to convert hospital, prisons to electricity

7th May 2002 South Africa’s energy parastatal, through electrical advisory service Elektroserve, is intent on converting 60% of coal-fired steam-generating systems used in correctional service facilities and government hospitals, to electrical point-of-use systems in three years. 

Positive outlook for oil offshore Egypt

7th May 2002 Independent oil and gas producer Apache Corporation said it had completed its first deepwater well offshore Egypt and will test for potentially productive natural gas deposits in the coming weeks. 

Malaysian oil company buys SA payment system

7th May 2002 Electronics and communications company, Tellumat Contract Manufacturing has secured an order for 600 South African-developed secure self-service payment terminals (SSTs) from Prism Payment Technologies as part of a further roll-out of fuel vending units to the Malaysia-based petroleum giant... 

Techno opportunity for SA as Italian die-caster invests

7th May 2002 The Department of Trade and Industry’s office in Milan, Italy, has been instrumental in the establishment of a new word-class aluminium high-pressure die-casting foundry in the Nelson Mandela metropole. 

State signal distributor gets telecoms licences

7th May 2002 South Africa issued two telecoms licences to State-owned signal distributor Sentech in a move heralding the end of State-controlled utility Telkom’s fixed-line monopoly. 

Petroleum products sales fall

7th May 2002 Major petroleum product sales in South Africa decreased by 0,4% in the first quarter of 2002, as compared to the first quarter of 2001, the South African Petroleum Industry Association announced. 

Manufacturing strategy reflects knowledge-economy drive

7th May 2002 Hearings into the Department of Trade and Industry’s (DTI’s) proposed integrated manufacturing strategy (IMS) were concluded today, but the department anticipates further discussion and debate over the next two months so as to ensure that a shared economic vision and strategy is forged. 

SA’s first electricity distributor by late 2003

7th May 2002 Minerals and Energy Minister Phumzile Mlambo-Ngcuka yesterday said in her budget vote speech that the first regional electricity distributor (RED) would be established by the last quarter of 2003. The long-awaited establishment of six REDs forms part of government’s restructuring of the... 

Global steel wars and SA

By: Terence Creamer     6th May 2002 While the world slugs it out over market access, South Africa battles to boost its steel beneficiation cause. 

Injaka bridge inquiry coming to a head

6th May 2002 The Department of Labour’s (DoL) inquiry into the tragic collapse of the Injaka bridge in Mpumalanga in 1998 will come to an end before the end of this month as a public hearing – the last step in a three year investigation – will start today. 

Nigeria prepares way for second telecoms firm

6th May 2002 The Nigerian Communications Commission (NCC) said it was preparing a new timetable for the licensing of a second national telecom operator following requests from interested parties for more time. 

Trade to rise slightly in 2002 after 2001 slump

6th May 2002 World exports dipped one percent in volume in 2001 and contracted 4% by value to $6trillion, the World Trade Organisation (WTO) revealed in its latest report on international trade. 

SA's telecoms monopoly expected to last five more months

6th May 2002 South Africa’s State-run telecommunications utility Telkom sees its monopoly continuing for at least another five months as the government grapples with the selection of a competitor. 

French defence firm beating offset targets

6th May 2002 Electronics firm Thales performed 30% of its $1-billion industrial participation (IP) in a year. 

Nigeria to review oil deals

6th May 2002 Nigeria said the Joint Operating Agreement (JOA) underpinning its partnership with oil majors producing most of its crude was outdated and needed review. 

Moz – SA natural gas project launched

6th May 2002 The Mozambican natural gas project, a venture between Sasol, the Republic of Mozambique and the Republic of South Africa, was officially launched on Friday. 

Swedish Engineering group positive before listing

3rd May 2002 Bookbuilding for engineering group Alfa Laval’s roughly $741- million initial public offering has got off to a good start, investment bankers close to the deal said. 

$450m for DRC reconstruction

3rd May 2002 The World Bank has approved a $450-million credit line for the Democratic Republic of Congo (DRC) aimed at rebuilding the central African country’s war-ravaged economy, AFP reports official sources said in Kinshasa. 

Peru postpones $61,4m highway

3rd May 2002 Peru postponed for the second time the bidding for a highway project that will require an estimated investment of $61,4-million until May 24, the country’s privatisation board COPRI said. 

Two consortia prequalify for Gauteng rapid-rail project

3rd May 2002 Two consortia have prequalified to participate in the rest of the tender phase of the Gauteng rapid-rail link. 

SA-France create new aerospace company

3rd May 2002 South Africa’s defence parastatal Denel and Turbomeca, part of the Snecma group of France, created a new company, Turbomeca Africa, for the manufacture of engine components and maintenance of helicopter engines and industrial turbines for trains and cogeneration. 

Cement producer reports 33% earnings rise

2nd May 2002 South African cement producer, Pretoria Portland Cement (PPC), reported a 33% rise in operating profit to R247,5-million in the six months to March, despite stagnant domestic demand for cement and upheaval in Zimbabwe. 

Parastatals call for interim telecoms liberalisation

2nd May 2002 News of the Department of Communications (DoC) and the Independent Communications Authority of South Africa (Icasa) resolving their differences over aspects of the SNO Process was welcomed by Vusi Ngubeni, executive director telecommunications. 

Iron-ore deal boosts steel company

2nd May 2002 The iron-ore procurement deal struck during the unbundling of South African steel company Iscor last year is beginning to show through on the company’s financial results, despite the inclusion of an operating loss from Saldanha Steel. 

Algeria builds $80m helium plant

1st May 2002 Algerian State-owned oil and gas company Sonatrach selected German firm Linde to build and operate a $80-million helium plant that would double the country’s output. 

Nigerian oil sector faces funding crisis

1st May 2002 Nigerian oil output could fall further if a funding crisis resulting from a recent Supreme Court ruling persists, oil industry sources said. 

Malawi says third mobile licence wil be issued in May

1st May 2002 Malawi’s telecoms regulator said it would licence by the end of May a third mobile phone firm to operate in the impoverished southern African country. 

Public symposium on post-Doha results

30th April 2002 The future of the global trading system and the economic, developmental, social and environmental impact of trade negotiations will be the focus of three days of discussion and debate, which started yesterday. 

Joburg to demolish four derelict buildings

30th April 2002 As part of the Johannesburg Inner City Regeneration and Rejuvenation Project, the Johannesburg Metropolitan Council is targeting all old, potentially dangerous buildings in the city for demolition. So far, four derelict buildings in the inner city have been identified and are earmarked for... 

Morocco launches $3,8bn tourism project

30th April 2002 Morocco launched a campaign aimed at selecting local and foreign partners for a development plan of five seaside tourist resorts, requiring an investment of at least $3,85-billion. 

SA energy group buys stake in E Guinea oil prospect

30th April 2002 South African synthetic fuels group Sasol said it had acquired a 20% stake in Equatorial Guinea’s Block H, boosting its oil exploration interests in the tiny west African country. 

SA firm to spend R350m on global acquisitions

By: Terence Creamer     30th April 2002 South African telecoms, multimedia and technology (TMT) company, Altech, has set aside R350-million for acquisitions in the international telecoms environment, CE Craig Venter reports. 

Firming SA economy boosts gas giant

30th April 2002 Gas firm Afrox turned in good results for the six months ended March 2002, with revenue up 21% to R3,1-billion, with operating profit 23% higher at R440-million and headline earnings per share up a healthy 26%. 

Debt judgments approach R1bn

30th April 2002 Civil debt judgements registered an all-time high of R995-million in February and experts warn that the prognosis going forward is bleak. 

Building collapses have industry in shock

By: Irma Venter     29th April 2002 The South African Institution of Civil Engineering, the Association of Consulting Engineers, the Engineering Council of South Africa (Ecsa), the Institute for Timber Construction and the Institute for Municipal Engineers are preparing to lobby for stricter compliance with building regulations. 

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