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 – 123RF.com 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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TWO PROJECTS WORTH R1 BILLION UNDER CONSTRUCTION IN THE COEGA IDZ

The Coega Development Corporation (CDC) announced on Thursday that work has commenced on two of the projects worth over R1 billion at the Coega IDZ. The CDC earlier this year announced that investment projects worth over R1 billion are ready for implementation in the Coega IDZ. The three projects which include a R650-million manufacturing cement grinding Plant, a R71-million readymix concrete Plant, and a R350- million Gas Cylinder Plant. The two projects currently under construction include, MM Engineering a R350-million Gas Cylinder Plant which, when in full operation, will create over…

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