Group Five to dispose of its manufacturing cluster

Group Five’s share price shot up 14.5% on October 6, when its new strategy was announced, but has dropped 52.57% for the year Group Five’s share price was little changed on Tuesday, despite the company providing additional details on a turnaround strategy first announced in October. The construction group said in a strategy update it would dispose of its manufacturing cluster — some 10% of its business — as it shifts away from its historical focus on construction, towards infrastructure and investment. Group Five’s share price shot up 14.5% on…

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Energy efficiency a must for construction industry

Public Works Minister Nkosinathi Nhleko on Monday called on the construction industry to embrace innovative technologies that have superior energy efficiency performance compared to conventional materials. “Energy efficiency will contribute to sustainable development, while [eco-labelling construction products] will contribute towards South Africa’s green building policy,” said Minister Nhleko following his recent visit to the innovative construction product assessments entity, Agrément South Africa, located at the CSIR buildings in Pretoria. Minister Nhleko pledged support for Agrément South Africa’s Vision 2030 aimed at ensuring that innovative, modern and improvement methods of construction…

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SA companies explore opportunities in Tunisia, Algeria

A delegation of South African companies is currently on a trade and investment mission in Tunisia and Algeria, where they are exploring export markets. The trade and investment mission, which is led by the Department of Trade and Industry (dti), will serve to promote South African products and service offerings, while creating partnerships between the business communities of the respective countries. The trade mission, which got underway on Sunday, will conclude on Thursday. Trade and Industry Minister Dr Rob Davies said the mission is aimed at advancing Tunisia, Algeria and…

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Manufacturing multinational Caterpillar to help empower black-owned companies

Mining and construction equipment manufacturer, Caterpillar,

JOHANNESBURG – Close to 4,000 jobs are being created in the welding and mining equipment manufacturing sectors, thanks to a brand new investment programme. Mining and construction equipment manufacturer, Caterpillar, will launch the project in conjunction with the Department of Trade and Industry. Caterpillar said through the Equity Equivalent Investment Programme it aims to empower local and black-owned companies by developing companies and suppliers. The company was granted exemption from selling equity, instead opting to participate in the investment programme. The investment totals R1.3-billion. “It’s basically the guys who are good…

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CHINESE PARTNERSHIP Strikes delay China’s flagship BAIC SA plant construction

The government is feeling pressure from the Chinese state-owned R11bn Beijing Automotive Industry Holding Company (BAIC) vehicle plant being built in the Coega special economic zone near Port Elizabeth. Called BAIC SA and situated next to the R600m Chinese state-owned FAW truck and passenger car plant built from 2012 onwards, the latest, far more expensive industrial development project is behind schedule. Recently, it has been hit by labour unrest — including burning barricades — among the very people it aimed to help. The Industrial Development Corporation (IDC) owns a 35%…

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Atlantis SEZ a step closer to fruition

Trade and Industry Minister Rob Davies has published the intention to designate the Atlantis Special Economic Zone (SEZ). The public has 30 days from 8 September to support or object the designation of Atlantis. On Friday, Minister Davies said the proposed SEZ has already demonstrated its strong economic potential and attractiveness to investors by the fact that it has successfully managed to secure investors even before the designation of the SEZ. There are five investors at the proposed SEZ which is located in the Western Cape that are already operational,…

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R1.634-billion Mtentu Bridge tender awarded

Mtentu Bridge tender awarded

Construction of the first of two N2 Wild Coast mega bridges should start early in November. THE R1.634-billion tender for the Mtentu Bridge, one of two mega bridges to be built as part of the South African National Roads Agency (Sanral) N2 Wild Coast road project, has been awarded. However, the second mega bridge, spanning the Msikaba River, is to be retendered. About 80 percent of this new 560km route between Durban and East London will follow the existing R61. The two bridges will be part of approximately 90km of…

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China to score in R70bn SA projects

prasa | malusi ­gigaba | jacob zuma | china

Two mega-contracts between government and a Chinese parastatal are set to go ahead, despite neither qualifying for deviation from procurement laws. The department of water and sanitation and rail agency Prasa seem set to hand two contracts, worth more than R70bn, to a Chinese parastatal with neither a public tender nor permission from Treasury to bypass tender laws. Confidential documents obtained by City Press indicate that the water department, together with Prasa and Treasury, have entered into funding negotiations with the Export-Import Bank of China (Exim Bank). But the documents…

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Renttech SA: ‘Business as usual’ – with a renewed focus: New MD to ensure higher than ever service, product and technical excellence

Duncan Whitehead, new Managing Director of Renttech SA.

Renttech South Africa has a proud 20-year track record of providing a combination of high-quality local and international branded equipment for rental or purchase, allied to superb customer service and business integrity. After two decades, a new Managing Director, Duncan Whitehead, has taken up leadership of this well-known business. Renttech SA is the preferred supplier of welding, power generation, lifting and rigging equipment for rental or purchase to the engineering, industrial, construction, pulp and paper, petrochemical, power generation, agricultural – and many other sectors – across Southern and sub-Saharan Africa.…

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Opacity over construction pact is risky

By: Mark Allix There has been no full public disclosure by the Department of Economic Development and seven JSE-listed construction and engineering groups over their signing of a voluntary transformation agreement. © Lev Kropotov – The department and executives of some of the companies have cited continuous confidentiality of the terms and conditions of the “Voluntary Rebuilding Programme” at a time that the economy is looking to be in an increasingly perilous state. The opacity surrounding what is also known as the “settlement agreement” can only be construed as…

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