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Articles in category: Construction
JOHANNESBURG (miningweekly.com) – Platinum giant Royal Bafokeng Platinum (RBPlat) has terminated its contract with Shaft Sinkers for its Styldfrift I project, about 5 km from Bafokeng Rasimone Platinum Mine's North Shaft, in the North West. In a statement to shareholders on Wednesday, RBPlat noted that it served formal notice to terminate the contract for all work related to the sinking and lining equipping and the commissioning of the main and services shaft, as well as all related station and off-station development at Styldrift 1.(Read Full Article)
Aveng says headline earnings per share for the six months ended December last year are anticipated to plunge at least 45% from the previous comparative period(Read Full Article)
With the original B-BBEE Codes released in 2007, the BEE Act allows various industry sectors to issue their own sector codes. Nine sectors, including construction, have their own codes and the Construction Sector Codes were issued in June 2009.
This implies that anyone in the construction sector must follow the construction codes. The construction codes apply to any business involved in “construction related activities”.(Read Full Article)
CONSTRUCTION group Murray & Roberts (M&R) believes that by 2020 it will have established its oil, gas and energy services, CEO Henry Laas said on the release of full-year results to June on Wednesday.
Group revenue of R36bn was slightly up from R34.2bn in the year to June last year. Diluted earnings per share rose 25% to 305c. A dividend of 50c per share was declared. None was declared in the comparable period.
However, the order book shrank from R46.1bn to R40.9bn.(Read Full Article)
JSE-listed construction and engineering firm Group Five has been awarded a R4bn engineering, procurement and construction contract by Ghanaian energy group Cenpower Generation.
It will design and build a 350MW gas-and oil-fired combined-cycle power plant in the Tema industrial zone in Ghana.
The deal is still subject to certain conditions and will proceed to commercial and financial closure over the coming weeks. Once this has happened, the group will receive a notice to proceed.(Read Full Article)
South Africa Government is committed to supporting local manufacturers through a range of local procurement instruments, says the Department of Trade and Industry (dti).
ARCELORMITTAL SA, the country’s premier steel maker, says the four-week strike by the National Union of Metalworkers of South Africa (Numsa) has had a "major effect" on South Africa’s steel markets.
The group, which supplies about 70% of the nation’s steel — much of it to the building and construction industry — has been left with "significant stockpiles" that "we now need to dispatch and sell".(Read Full Article)
Despite crippling industry-wide strikes, uneasy foreign exchange rates and an uncertain post-election period, the building industry in South Africa is on the mend and is showing signs of recovering beyond several analysts’ expectations, Aggregate and Sand Producers Association of Southern Africa (Aspasa) director Nico Pienaar has asserted.(Read Full Article)
The awarding of studies for potential mining projects is on the increase, says DRA CEO Paul Thomson, who spoke to Mining Weekly Online on the eve of his company’s thirtieth anniversary celebrations.
The head of the 3 000-employee project house, which began in Johannesburg in 1984 in tough economic conditions not dissimilar to those prevailing now, says that DRA is currently in a recruitment phase to meet the increasing tempo of demand for its engineering and project management services.(Read Full Article)
An intervention is required to enhance black participation in procurement in engineering and construction, writes Thami Mazwai(Read Full Article)
Protech Khuthele Holdings, a South African construction company, has filed for business rescue as a lack of debtor repayments put it under cash constraints.
The Johannesburg-based company, whose chief executive officer, Antony Page, resigned on May 28, has voluntarily filed for protection against its creditors, the company said in a statement today.(Read Full Article)
Stefanutti Stocks has embarked on an active drive to ensure a sizeable percentage of work it priced was in joint ventures with black-owned companies to grow and develop them into competent contractors.
Willie Meyburgh, the chief executive of the listed construction group, said last week that there were not many black-owned contracting companies in the country, but the group had relationships with some of them. “We are helping them to develop their businesses to be sustainable stand-alone businesses and even eventually become our competitors.”
While Trade and Industry Minister Dr Rob Davies has commended the release of the first baseline report for the construction sector, which focuses on the progress made on the implementation of a Construction Sector Code – a requirement in terms of broad-based black economic-empowerment (BBBEE) policy – he has expressed concern that BBBEE targets in the sector remain unachieved.(Read Full Article)
The Silverline Group, which claims to be the only franchised construction company in South Africa and one of only a few in the world, won the Franchise Association of SA (Fasa) franchisor of the year award earlier this month.
With 30 outlets and growing at a rate of 25 percent a year, the group specialises in light steel frame construction and high performance alternative building solutions.
Silverline chief executive Jonathan Pepler said it offered a low initial franchise investment opportunity with an exceptional return on investment and a unique offering, with its business model teaching “building contractors to become business ...(Read Full Article)
Hong Kong-listed property development group Shanghai Zendai has outlined ambitious plans for the development of an R84-billion 22 km2 “city” on the sprawling Modderfontein property the company bought from South African chemicals group AECI for R1-billion in November.
The development, dubbed Zendai Modderfontein, would be funded by Zendai, the Export-Import Bank of China and the China Development Bank and was envisaged to house 100 000 residents, and employ a further 200 000 people upon its completion in 2024.(Read Full Article)
A formal process has been initiated in an effort to rebuild trust that had been “catastrophically” destroyed between government and the construction industry in the wake of revelations of widespread collusion, Murray & Roberts (M&R) CEO Henry Laas has revealed.
He said it would be premature to disclose who from industry and government was participating in the initiative, which was being facilitated by the South African Forum of Civil Engineering Contractors. However, Laas disclosed that two meetings had already taken place and that four Ministers had participated in the interactions, with the most recent meeting having occurred on April 8.(Read Full Article)
Civil engineering construction contractor Stefanutti Stocks Civils MD Werner Jerling has iterated the call for government to include input from consulting engineers and contractors “early on” in the tender conception process of large infrastructure projects to expedite the award process and provide “invaluable” project timeline and budget-related input.(Read Full Article)
Switzerland’s Holcim unveiled an all-share deal to buy France’s Lafarge on Monday to create the world’s biggest cement maker with combined sales of €32bn.
The partners billed the deal as a merger of equals under which Lafarge shareholders will receive one Holcim share for every Lafarge share held, with the combined group to be based in Switzerland and listed in Zurich and Paris.
Shares in Lafarge rose 4% at the open, the top gainer on France’s blue-chip CAC 40 index, while shares in Holcim were up 5.4%. The new entity, worth just less than $60bn ...(Read Full Article)
THE Steel and Engineering Industries Federation of South Africa (Seifsa) has approved amendments to its memorandum of incorporation to broaden its reach beyond South Africa’s borders.
The federation, which is focused on advancing the interests of employers in the metals and engineering sector, says part of its growth strategy adopts a new focus on the Southern African Development Community.
It also intends to restructure itself in accordance with the Companies Act of 2008. "This move follows the expansion of a growing number of South African companies, among them Seifsa members, beyond the borders of South Africa," the body said ...(Read Full Article)
ARCELORMITTAL SA’s earnings before interest, tax, depreciation and amortisation ) shot up 58% in the year to December, giving departing CEO Nonkululeko Nyembezi-Heita a fitting swansong after nearly seven mostly difficult years at the group.
But the total comprehensive loss rocketed for the South African unit of the world’s largest steel maker, ArcelorMittal Group. Trading conditions remain challenging for steel producers globally, and South Africa’s economy continues its pedestrian growth.
ArcelorMittal SA said on Friday lower levels of fixed government investment had a "disproportionate" effect on demand for steel, and low levels of fixed investment in the mining ...(Read Full Article)
South Africa’s steel and engineering sectors are likely to yield better growth in 2014 than last year when the sector only saw 2% growth and produced output estimated at R335-billion, said Steel and Engineering Industries Federation of South Africa (Seifsa) chief economist Henk Langenhoven in Johannesburg on Wednesday. He said short-term signals indicated that benefits would be derived from the expected domestic spending on infrastructure.(Read Full Article)
Cape-based engineering, procurement and construction company Sustainable Power Solutions and its subcontractor Renen Renewable Energy Solutions have completed the installation of a R17-million, 1 MW single-rooftop grid-tied solar plant on the roof of floorcovering manufacturer Belgotex’s factory, in Pietermaritzburg.(Read Full Article)
The energy-related proportion of Group Five’s R14.7-billion order book as of the end of October has increased to 39%, or R5.7-billion, with power projects comprising R3.4-billion and oil and gas developments the R1.9-billion balance. CEO Mike Upton says power, oil and gas are central to the group’s sector-based strategy, from which its geographical expansion is likely to follow, particularly into the rest of Africa, as well as Central and Eastern Europe.(Read Full Article)
The ever-increasing number of cross-border contracts, as well as the scope and scale of work being undertaken by construction companies, has necessitated the need for unity and consistency in the agreements governing construction contracts.
This will assist in resolving disputes arising from such contracts in the most expedient and cost-effective manner, says law firm Routledge Modise. director Gary Pritchard.(Read Full Article)