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Latest News

New Angola well poised for production

5th December 2001 The first oil will soon gush from Angola’s giant Girassol field in block 17, French oil company TotalFinaElf said. 

Richards Bay aluminium plant awards R35m electricity solution contract

5th December 2001 Global power and automation technology group, ABB South Africa has recently secured a R35-million order to provide power factor correction (PFC) and harmonic filters for Hillside Aluminium, a subsidiary of the BHP Billiton group, in Richards Bay. 

$104m loan for Egypt gas project

4th December 2001 Egypt’s Natural Gas Company (Gasco) has signed a $104-million bank loan facility arranged by Saudi-based Arab Petroleum Investments Corporation (Apicorp) to finance a liquefied petroleum gas project. 

R460m contract awarded to build Cape convention centre

4th December 2001 A joint venture between Murray & Roberts and WBHO has been awarded the principal contract for the official Cape Town convention centre hotel. 

Surge in US anti-dumping investigations

4th December 2001 The World Trade Organisation (WTO) Secretariat reported that in the period January 1 to June 30, 18 members initiated 134 anti-dumping investigations against exports from a total of 41 different countries or customs territories. 

R2bn investment by German automaker

4th December 2001 German luxury carmaker BMW South Africa announced that it would invest two-billion rands on upgrading its plant following a decision by BMW in Munich, which will see future BMW models being built at its Rosslyn manufacturing plant, near Pretoria. 

SA animal-feed firm up for sale

4th December 2001 Chemicals, fibres and explosives group AECI has concluded a Heads of Agreement in terms of which it will dispose of its animal feeds business, Kynoch Feeds, to Kemira, of Finland, with effect from April 1, 2002. 

Paper giant to fight competition ruling

4th December 2001 A South African pulp and paper producer on Monday denied contravening the country's Competition Act and said it would oppose a hefty fine recommended by country's Competition watchdog. 

Building an African rail icon

3rd December 2001 An incredible level of consensus appears to have emerged between the key social partners – government, management and labour – at State-owned rail company Spoornet over the last few months. 

Russian wind farm still on cards

3rd December 2001 US wind turbine company Enron Wind, a unit of troubled energy firm Enron, said it might build Russia’s first big wind- arm with Swiss/Swedish industrial group ABB . 

World telecoms operators still keen on SA

3rd December 2001 Foreign phone companies are enthusiastic about investing in a new South African fixed-line operator to rival monopoly Telkom by next May, despite depressed world telecoms markets, a top official said. 

New economy here to stay – survey

3rd December 2001 The new economy has become an integral part of the established business landscape, despite the dot.com collapse, according to a new survey by PwC Consulting, a business of PricewaterhouseCoopers. 

Two shortlisted for Nigeria aluminium smelter

30th November 2001 Nigeria has shortlisted UK-based BHP Billiton and Switzerland’s Glencore International in its search for a technical partner to revive its troubled 193 000-ton-capacity aluminium smelter, officials said. 

385 MW power project for Morocco

30th November 2001 German firm Siemens has agreed to build a 385 MW power plant in northern Morocco at a cost of $250-million, a Moroccan government official said. 

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. 

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