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Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) – second window, South Africa

By: Sheila Barradas     17th March 2017 An update on the Renewable Energy Independent Power Producer Procurement Programme – second window 

Digital public-private high school celebrates ten years 

     2nd March 2017 Information technology multinational Oracle last month celebrated the tenth year of the fully digital high school, which it built in partnership with the Gauteng Department of Education.  

Challenging times call for innovation

By: Robyn Wilkinson     17th February 2017 It remains imperative for companies to remain innovative, especially amid the construction industry’s facing a dilemma, with local infrastructure – including power, road, water and sewerage infrastructure – in dire need of upgrading, while very little money is being spent on civil construction... 

EDD transactions adds R10.8bn to local economy

By: Ilan Solomons     21st December 2016 Settlements concluded during the year by the Economic Development Department (EDD) has resulted in R10.8-billion being released back into the local economy. This included, among others, settlements with beer and cider giant Anheuser-Busch InBev (AB InBev), carbonated soft drink producer Coca-Cola... 

Tribunal approves Aveng’s immunity from an administrative penalty

By: Megan van Wyngaardt     27th October 2016 The Competition Tribunal has confirmed a consent agreement between construction company Aveng and the Competition Commission, which will give Aveng immunity from an administrative penalty. The matter had been delayed for the commission to make changes to the consent agreement to include some... 

Construction giants reach transformative agreement with govt 

By: Megan van Wyngaardt     11th October 2016 The South African Forum of Civil Engineering Contractors, together with national government, on Tuesday signed an agreement with several construction companies, including Wilson Bayly Holmes-Ovcon (WBHO), Aveng, Murray & Roberts, Group Five, Basil Read, Raubex and Stefanutti Stocks, to accelerate... 

Cummins launches technician training programme  

     1st September 2016 Cummins Africa has added a compressed natural gas engine technician training programme to its training centre in Kelvin View, in Gauteng, to support the use of CNG in the region and the continent. Schalk Burger has the details. 

Renewable Energy Independent Power Producer Procurement Programme – second window, South Africa

By: Sheila Barradas     26th August 2016 An update in the second window of the Renewable Energy Independent Power Producer Procurement Programme. 

‘Transformational’ deal to change Aveng Grinaker-LTA’s look-and-feel, not tick BEE boxes 

By: Terence Creamer     23rd August 2016 South African construction and engineering group Aveng expects to conclude an empowerment transaction within months to further transform its Aveng Grinaker-LTA business, which is on the cusp of moving into the black for the first time since 2011. CEO Kobus Verster believes the transaction to be... 

Renewable Energy Independent Power Producer Procurement Programme – second window, South Africa

By: Sheila Barradas     22nd April 2016 An update on the Renewable Energy Independent Power Producer Procurement Programme – second window. 

Renewable Energy Independent Power Producer Procurement Programme – second window, South Africa

By: Sheila Barradas     18th March 2016 An update on the Renewable Energy Independent Power Producer Procurement Programme – second window. 

Government mulls review of law regulating construction companies

By: African News Agency      16th March 2016 Government was “itching” to do a complete overhaul of the laws governing South Africa’s construction industry which continued to be dogged by allegations of collusion, Public Works Minister Thulas Nxesi said on Tuesday. Briefing Parliament’s portfolio committee on public works, Nxesi and... 

Increased risk of massive construction lay-offs

By: News24Wire      26th November 2015 Embattled construction firms, which lost 38% of their aggregate market capitalisation in 2015, are facing more hard times, a survey showed on Thursday. The latest PwC study on the construction industry has shown that the sector is taking strain as it battles lower revenue and profit, with fewer... 

Bank concludes R1.14bn loan facility for Aveng-Collins JV

By: Zandile Mavuso     25th September 2015 Nedbank Corporate and Investment Banking (NCIB) has concluded an estimated R1.14-billion loan facility to finance a joint venture (JV) between Durban-based commercial property development company Collins and construction and infrastructure company Aveng. 

Renewable Energy Independent Power Producer Procurement Programme – second window, South Africa

By: Sheila Barradas     7th August 2015 An update on the Renewable Energy Independent Power Producer Procurement Programme –second window. 

Aveng appoints replacement for Robinson

By: Creamer Media Reporter      31st July 2015 JSE-listed Aveng has appointed McDermott International commercial senior VP Scott Cummins as CEO of its Asia and the Pacific subsidiary McConnell Dowell, effective October 1. Cummins would succeed outgoing CEO David Robinson, who was retiring this year, but would remain available to the company... 

Sishen solar photovoltaic power project, South Africa

By: Sheila Barradas     5th June 2015 Acciona’s Sishen solar photovoltaic plant has reached 100% capacity. 

Aveng dispose of 70% of property holding vehicle for R1.13bn

By: Megan van Wyngaardt     7th April 2015 JSE-listed construction group Aveng has agreed to dispose of 70% of its Dimopoint property holding vehicle for R1.13-billion to Imbali Props 21, an entity of the privately owned Collins Property group, effective June 30. This formed part of its strategy to diversify its funding sources, extend... 

Aveng expects 55% drop in headline earnings

By: Megan van Wyngaardt     11th February 2015 JSE-listed construction company Aveng on Wednesday said it expected to report a 55% to 60% drop in its headline earnings per share (HEPS) for the year ended December 31. HEPS were expected to be between 32.8c and 36.9c a share, compared with HEPS of 82.1c a share the year before. 

Steel provider strengthens relationship with automotive industry

     21st November 2014 Multinational steel manufacturer ArcelorMittal South Africa supplies around 170 to 180 kiloton of flat steel products to the country’s vehicle manufacturers. “This is as part of our strategy to continue our good relationship with the automotive industry,” says marketing manager for product and... 

Fitch downgrades Aveng, company outlook negative

By: Leandi Kolver     12th March 2014 Ratings agency Fitch on Wednesday downgraded South Africa-based building materials group Aveng’s national long-term rating to ‘BBB(zaf)’ from ‘A(zaf)’ and its national short-term rating to ‘F2(zaf)’ from ‘F1(zaf)’, stating that the company’s outlook was negative. The downgrade and negative... 

Struggling Grinaker-LTA expected to break even in next financial year

By: Irma Venter     7th March 2014 Grinaker-LTA remained a persistent thorn in Aveng’s side for the six months ended December 31, while several claims on large projects also piled on the pressure. Aveng CEO Kobus Verster says revenue for the construction and engineering group increased 11%, to R27.65-billion, for the six months... 

Clover completes Queensburgh production, distribution facility 

By: Creamer Media Reporter      6th March 2014 JSE-listed Clover has completed its newly expanded Queensburgh production and distribution facility, in Durban, bringing to a close its three-year Cielo Blu project.  

Medupi-linked water scheme delayed, but ‘poses no risk’ to start up

By: Terence Creamer     3rd March 2014 The first phase of the Mokolo and Crocodile Water Augmentation Project (MCWAP), which is under construction partly to provide water from Mokolo dam to the Medupi power station, is behind schedule, Eskom has confirmed. However, the State-owned power utility insists that the delay does not pose a... 

Problem contracts, labour unrest take toll on Aveng 

By: Irma Venter     25th February 2014 Grinaker-LTA remained a persistent thorn in Aveng’s side for the six months ended December 31, while several claims on large projects also piled on the pressure. Aveng CEO Kobus Verster said on Tuesday that revenue for the construction and engineering group increased 11%, to R27.65-billion, for... 

Aveng warns of impending 25% earnings slump

By: Natalie Greve     18th February 2014 Aveng has cautioned shareholders that it expects earnings per share (EPS) and headline earnings per share (HEPS) for the six months ended December 31 to decline by between 20% and 25%, as net operating earnings fell 8% below the prior comparative period. This translated to EPS of between 78.8c... 

Computerised health and safety training proving successful in SA

By: Carina Borralho     20th September 2013 Computer software designed specifically for health and safety training in various real-life environments is suitable for any industry and is achieving positive results in South Africa and worldwide, video and multimedia production company The Boiler Room tells Engineering News. “The company has... 

SA unit main cause of ‘very disappointing’ year for Aveng

By: Irma Venter     20th September 2013 “The bottom line is that we have to stop scoring own goals and execute profitable work,” says Aveng CFO and acting CEO Kobus Verster. He notes that continued losses at Aveng’s South African construction business, Grinaker-LTA, are largely to blame for the negative performance of the construction... 

Aveng sees profit slide as Grinaker-LTA posts R950m loss 

By: Irma Venter     10th September 2013 “The bottom line is that we have to stop scoring own goals and execute profitable work,” said Aveng CFO and acting CEO Kobus Verster on Tuesday. Speaking in Johannesburg, he noted that continued losses at Aveng’s South African construction business, Grinaker-LTA, were largely to blame for the... 

Mixed reaction to Jardine’s resignation

By: Terence Creamer     21st August 2013 Reaction to the announcement that Aveng CEO Roger Jardine had resigned was sharply divided – with some expressing genuine shock and others indicating that it came as “no surprise”, owing to the recent poor performance of the company. Jardine’s resignation was effective from August 31, when CFO... 

Competition Tribunal to hear Telkom, construction cases this week

     15th July 2013 The Competition Tribunal will, this week, hold hearings related to the Competition Commission’s R1.46-billion settlement with 15 construction firms found guilty of collusive tendering, as well as the commission’s R200-million settlement with telecoms group Telkom over charges of abusing its... 

AfriSam freed of R15bn debt burden in restructuring

By: Natasha Odendaal     2nd April 2013 Cement producer AfriSam on Tuesday successfully completed a years-long restructuring programme that reduced its overall debt by more than R15-billion. The group, which faced a significant debt burden and almost defaulted on billions of rand of debt over a year ago, now had a sustainable long-term... 

Resources Watch 

     20th March 2013 This week: Coal of Africa prepares to offload its Mpumalanga thermal coal mines. An 'SA Inc.' approach is required to deal with the  ‘unsustainable’ labour situation. And, South Africa’s newest coal mine should reach full production by June. 

We report on an epic flight and an unusual donation from Russia 

By: Creamer Media Reporter      20th March 2013 From Creamer Media in Johannesburg, this is the Real Economy Report. Recently, Russian aviation company U.T.Air and South African business aviation company ExecuJet donated an Antonov An-2 utility aircraft to support charity operations in Southern Africa.  

Construction group sets aside R1.3bn concessions war chest

By: Terence Creamer     15th March 2013 JSE-listed construction and engineering group Aveng has set aside R1.3-billion in financial resources to enable it to participate in emerging transport, energy, water and accommodation concessions opportunities in Africa and Australasia. The group, which reported a 30% rise in revenue to... 

'SA Inc.' approach required to deal with ‘unsustainable’ labour situation  

By: Terence Creamer     15th March 2013 South African construction and engineering group Aveng has warned that ongoing labour unrest – which lopped R123-million, or 23%, off its profits during the interim period to December 31, 2012 – not only represented an earnings risk for the coming six months, but was also undermining South... 

Aveng expects marked improvement in earnings

By: Idéle Esterhuizen     18th February 2013 South African construction group Aveng anticipated its earnings per share (EPS) and headline earnings per share (HEPS) for the six months ended December 31, 2012, to be between 40% and 50% higher than in the comparative period in 2011. EPS were expected to be between 99.1c and 106.2c, up from... 

Protech names new readymix executive

     5th February 2013 JSE-listed Protech Kuthele on Tuesday said it had appointed Sebasti Badenhorst as the concrete applications business executive at its readymix division Protech Readymix with immediate effect. She has 17 years of experience in the construction and materials supply related industry, with her... 

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