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AfDB approves $200m to IDC to support industrialisation projects in Africa

By: Anine Kilian     2nd October 2017 The African Development Bank Group (AfDB) has approved a private sector multicurrency line of credit of $100-million and R1.3-billion to South Africa’s Industrial Development Corporation (IDC). The operation will support industrialisation projects in South Africa and in other regional member... 

Ideas that work for industrial development. The 6th CSIR Conference

By: Creamer Media Reporter      2nd October 2017 The 6th Council of Scientific and Industrial Research (CSIR) Conference themed ‘Ideas that Work for Industrial Development’, will take place at the CSIR International Conference Centre, Pretoria East on October 5 and 6 this year. 

CoAL seeks greater self-sufficiency after transformational FY17

By: Mia Breytenbach     29th September 2017 Following an “extremely positive and transformational year” in which South Africa-focused Coal of Africa Limited (CoAL) achieved significant milestones, such as the settlement of significant liabilities and transitioning into a coal producer with the acquisition of the cash-generative Uitkomst... 

Expanded steel services firm eyeing specialist construction, industrial markets

By: Schalk Burger     29th September 2017 Stainless steel fabricator and welding services firm Hlakani Engineering aims to provide end-to-end services for specialist construction and industrial projects after it acquired Middleburg-based structural steel company F&K Engineering, says Hlakani director Gerhard Holtshauzen. The acquisition... 

Blue Chip Lubricants opens plant, seals empowerment deal as it aims for fifth of the market 

By: Irma Venter     28th September 2017 Blue Chip Lubricants (BCL) has completed the construction of a new blending plant in Johannesburg, which it hopes will help the company to secure a fifth of the lubricants market in South Africa. The company will be aided in this ambition by the sale of 51% of the business to black-owned firm... 

IDC confident BAIC’s Coega plant will begin production in mid-2018

By: Irma Venter     15th September 2017 It has been a year since Chinese vehicle manufacturer Beijing Automotive Group (BAIC) and South Africa’s Industrial Development Corporation (IDC) broke ground on a new vehicle assembly plant in the Coega Industrial Development Zone (IDZ), near Port Elizabeth. BAIC is the major shareholder in the... 

Master Drilling posts resilient interim results, continues technological innovation focus

By: Mia Breytenbach     12th September 2017 Two additional machines and the impact of favourable foreign-exchange movements have contributed to a 12.5% increase in JSE-listed drilling services provider Master Drilling’s revenue to $60.5-million for the six months ended June 30. The group added two raise-bore machines during the period... 

Lossmaking Basil Read pushing ahead with ‘extensive restructuring’

By: Irma Venter     8th September 2017 Construction and engineering group Basil Read has announced a R458.8-million operating loss for the six months ended June 30, compared with a R73.4-million profit for the same period last year. Revenue from continuing operations declined from R2.5-billion, to R2.27-billion. 

BAIC vehicle manufacturing plant project, South Africa

By: Sheila Barradas     8th September 2017 It has been a year since the Beijing Automotive Group Corporation and the Industrial Development Corporation broke ground on a new vehicle assembly plant in the Coega Industrial Development Zone. 

Agribusiness confidence index declines further in Q3

By: Anine Kilian     4th September 2017 The Agbiz/Industrial Development Corporation (IDC) Agribusiness Confidence Index, declined by a further two index points to 54 in the third quarter. Among the ten subindices making up the index, the quarterly decline was broad based, with the exception of turnover and capital investment. 

BAIC Eastern Cape plant on track, says IDC

By: Irma Venter     4th September 2017 It has been a year since Chinese vehicle manufacturer Beijing Automotive Group (BAIC) and South Africa’s Industrial Development Corporation (IDC) broke ground on a new vehicle assembly plant in the Coega Industrial Development Zone (IDZ), near Port Elizabeth. BAIC is the major shareholder in the... 

Studies point to favourable outlook for vanadium redox flow battery

By: Mia Breytenbach     1st September 2017 There is favourable demand for vanadium redox flow batteries (VRFBs), particularly in the utility and offgrid, as well as minigrid, markets, with demand to peak from 2025 to 2030. This is according to recently concluded market studies, commissioned by Aim-listed Bushveld Minerals’ energy... 

Study urges South Africa to find energy storage niche

By: Mia Breytenbach     1st September 2017 With energy storage considered to be the “new wave” in the energy sector and increasingly becoming a reality, South Africa needs to prepare itself if it wishes to take advantage of the energy storage growth opportunities within the energy storage stationary value chain and the mobility value... 

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

By: Sheila Barradas     1st September 2017 An update on the Renewable Energy Independent Power Producer Procurement Programme – third window. 

Xina Solar One parabolic trough plant project, South Africa

By: Sheila Barradas     1st September 2017 Abengoa has achieved practical completion at Xina Solar One. 

Deputy Minister to launch multimillion-rand black industrialist business

By: Anine Kilian     28th August 2017 Deputy Trade and Industry Minister Bulelani Magwanishe will launch multimillion-rand black industrialist firm Maneli Pets in Edenvale, Gauteng, on September 1. Maneli Pets received grant funding of R12.5-million from the DTI’s Black Industrialist Scheme (BIS).  

Basil Read posts R459m loss, continues restructuring, capital raising

By: Irma Venter     28th August 2017 Construction and engineering group Basil Read on Monday announced a R458.8-million operating loss for the six months ended June 30, compared with a R73.4-million profit for the same period last year. Revenue from continuing operations declined from R2.5-billion, to R2.27-billion. 

Industrial base growth will stimulate province’s steel industry

18th August 2017 Growing the Eastern Cape industrial base will assist in stimulating growth in the struggling steel industry, says the Industrial Development Corporation (IDC). 

Manufacturers on receiving end of weak economy

18th August 2017 Manufacturers in South Africa are on the receiving end of the weak economy as there is little room to pass on cost increases, says Steel and Engineering Industries Federation of Southern Africa (Seifsa) economist Marique Kruger. 

Study urges South Africa to find energy-storage niche 

By: Mia Breytenbach     17th August 2017 With energy storage considered to be the “new wave” in the energy sector and increasingly becoming a reality, South Africa needs to prepare itself if it wishes to take advantage of the energy storage growth opportunities within the energy storage stationary value chain and the mobility value... 

Bushveld Energy, IDC studies indicate favourable vanadium battery, electrolyte demand

By: Mia Breytenbach     16th August 2017 There is favourable demand for vanadium redox flow batteries (VRFBs), particularly in the utility and offgrid, as well as minigrid markets, with demand to peak in 2025 to 2030. This is according to recently concluded market studies, commissioned by Aim-listed Bushveld Minerals’ energy subsidiary... 

Progressive moves

By: Terence Creamer     11th August 2017 The decision of the Industrial Development Corporation (IDC) to publish the identities of its new clients, including those officially identified as politically exposed people (PEPs), should be applauded. Such disclosure affects all of the State-owned development finance institution’s funding... 

Sunrise Energy liquefied petroleum gas import terminal, South Africa

By: Creamer Media Reporter      11th August 2017 The terminal was officially launched on August 8. 

Sunrise Energy's R1bn LPG storage facility to boost energy security, downstream competition

By: Anine Kilian     7th August 2017 Sunrise Energy's R1.02-billion open-access liquefied petroleum gas (LPG) import and storage terminal, in Saldanha Bay, in the Western Cape, will enable the import of LPG in large quantities, boosting regional energy security and increasing downstream competition. The facility, which is Africa's... 

As batteries make power play, South Africa mulls market participation

By: Irma Venter     4th August 2017 The world changed more than could be imagined in the 1990s. Not only was it the advent of all things Internet and digital connectivity, it also saw the birth of the rechargeable lithium battery, required to charge humankind’s new tools, such as cellphones and laptop computers. Today, the chase is... 

Group’s contracts set to increase marine protection in South Africa

4th August 2017 African Marine Solutions Group (Amsol) states that two milestone contract awards have further supported the company growth strategy since its acquisition of maritime services provider SMIT Amandla Marine in December.  

As batteries make power play, South Africa mulls market participation

By: Irma Venter     4th August 2017 The world changed more than could be imagined in the 1990s. Not only was it the advent of all things Internet and digital connectivity, it also saw the birth of the rechargeable lithium battery, required to charge humankind’s new tools, such as cellphones and laptop computers. Today the chase is... 

IDC addresses transparency, governance concerns 

3rd August 2017 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about new measures being implemented by the Industrial Development Corporation (IDC) to improve transparency and governance, as well as about the IDC’s investment and disbursement plans for the current financial year. 

IDC reports strong rise in support for black industrialists as disbursements fall  

By: Terence Creamer     31st July 2017 South Africa’s Industrial Development Corporation (IDC) has announced that its funding approvals have increased to a record R15.3-billion in 2017, but also confirmed that it would not meet a five-year target, set in 2015, of R100-billion in approvals by 2020. Presenting the financials in... 

Restructuring of Scaw into three standalone entities at an advanced stage 

By: Terence Creamer     31st July 2017 South Africa’s State-owned Industrial Development Corporation (IDC) announced on Monday that the restructuring of its steel subsidiary Scaw Metals into three standalone entities was at an advanced stage, as were plans to secure strategic equity partners (SEPs) for each of the units. Speaking at... 

Names of all IDC clients, including politically exposed people, now being made public 

By: Terence Creamer     31st July 2017 The Industrial Development Corporation (IDC) has officially started to publish, on its website, the identities of all of its clients, including those officially identified as politically exposed people (PEPs). This disclosure affects all of the State-owned development finance institution’s... 

Stop moratorium now, NUM instructs DMR 

By: Martin Creamer     26th July 2017 The National Union of Mineworkers (NUM) said on Wednesday that it is deeply concerned by the current consideration by the Minister of Mineral Resources Mosebenzi Zwane to put in place a mineral rights moratorium until the finalisation of the Mining Charter Three court challenge by the Chamber of... 

Free State natural gas project, South Africa

By: Sheila Barradas     21st July 2017 Tetra4 is waiting for the final record of decision from the Petroleum Agency of South Africa for development to start. 

Manganese makes list of key tech metals heading for short supply

By: Martin Creamer     11th July 2017 Nothing can stop the proliferation of iPhones, solar panels and Teslas, except perhaps a shortage of key natural resources, comments the latest Fortune magazine, which puts manganese from South Africa on the list of crucial technology metals needed in the US. Fortune’s world map showing the... 

Greenhouse tightening as govt imposes Paris agreement – Exxaro

By: Martin Creamer     26th June 2017 The legislative changes around emission of greenhouse gases is becoming more onerous as the South African government implements the Paris Agreement, diversified black-owned resources group Exxaro said on Monday, when the coal-mining major announced that “good progress” had been made finalising... 

VescoPlastics’ strong training heritage recognised

By: David Oliveira     23rd June 2017 For its commitment to training, local polymer bearing manufacturer   VescoPlastics received the Artisan Award at the Steel and Engineering Industries Federation of Southern Africa’s (Seifsa’s) Awards for Excellence, which were held last month at the Industrial Development Corporation Conference... 

Ngonye (formerly Mosi-oa-Tunya) photovoltaic solar project, Zambia

By: Sheila Barradas     16th June 2017 The project involves the construction of a 34 MW solar photovoltaic project. 

Onshore gas production Africa: ‘We’ve walked the road many still fear to tread’ Renergen COO

15th June 2017 South Africa’s sole onshore natural gas project Tetra4 owner Renergen has just secured $17m of government funding. Chief Operating Officer Nick Mitchell will reveal more about this landmark project at the Oil & Gas Africa Conference in Cape Town next month Thirteen gas wells make up the Tetra4... 

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