Corporate Affairs
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Infrastructure still budget priority with R870bn allocation
South Africa’s government plans to inject R865.4-billion into infrastructure projects such as housing, roads, rail, public transport, water and electricity, maintaining its public infrastructure investment commitments over the next three years. The 2016 Budget, tabled on Wednesday, showed transport and logistics infrastructure taking up the largest share of the 2016 medium-term expenditure framework (MTEF) for infrastructure, with R292-billion allocated to Department of Transport-led projects over a three-year period, while energy infrastructure accounted for R180.7-billion – or 21% of total public-sector infrastructure spending – over three years.
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Infrastructure still Budget priority with R870bn allocation
South Africa’s government plans to inject R865.4-billion into infrastructure projects such as housing, roads, rail, public transport, water and electricity, maintaining its public infrastructure investment commitments over the next three years. The 2016 Budget, tabled on Wednesday, showed transport and logistics infrastructure taking up the largest share of the 2016 medium-term expenditure framework (MTEF) for infrastructure, with R292-billion allocated to Department of Transport-led projects over a three-year period, while energy infrastructure accounted for R180.7-billion – or 21% of total public-sector infrastructure spending – over three years.
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Sanral to get R27bn from fiscus for nontoll-road network
The national fiscus would provide some R1.4-billion to the South African National Roads Agency Limited (Sanral) over the medium term to plug the gap of the lowered e-toll fees on some of Gauteng’s highways and ensure the parastatal serviced its debt commitment. Following the adjusted tariffs last year after a review of the costs of e-tolls on the first phase of the Gauteng Freeway Improvement Project (GFIP), the National Treasury said in the 2016 Budget that it would allocate the funds to supplement the now-short revenue from the unpopular system.
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Static FY growth expected as Imperial faced depressed economic conditions
Despite a “pleasing” start to the second half of the financial year, JSE-listed Imperial expects a somewhat stifled performance for the full year amid a depressed trading environment. Single-digit revenue growth and unchanged operating profit in continuing operations was expected to be the order of the day for the full-year to June 30.
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Imperial posts higher H1 earnings
JSE-listed Imperial on Tuesday posted a 6% rise in headline earnings a share to 801c and a 19% increase in basic earnings a share to 881c for the six months to December 31. Headline earnings grew 5% to R1.6-billion and profit attributable to shareholde…
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New economic plan for Gauteng to be tabled in May
The Gauteng Provincial Government is preparing to unveil a new Provincial Economic Plan for South Africa’s economic powerhouse to better cope with rapid urbanisation, persistent unemployment, poverty and inequality. The new plan, set to be publicly launched in May, aligned itself to government’s nine-point plan, adjusted for the “unique features” of Gauteng’s economy, Premier David Makhura said on Monday.
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N2 Wild Coast Road not in breach of EIA – Sanral
With “misinformation” over the Wild Coast Road project spreading among the local communities along the route, the South African National Roads Agency Limited (Sanral) has defended the project that it believes will bring substantial benefit to Eastern Cape region. The roads agency on Friday called on communities not to jeopardise the project through protests over incorrect and misleading claims that the planned route could be changed and that there was no environmental management plan and strategy in place.
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Cummins looks to the future with Stage V vision
As the European Union’s (EU’s) 2019 emission regulations loom, engine manufacturer Cummins is gearing up for the Stage V vision with next-generation engines that “redefine” engine performance. Cummins planned to unveil ultra-clean 3.8 ℓ to 9 ℓ platforms for construction, mining and materials handling equipment, as well a full line-up of aftertreatment, to meet Stage V, at trade show bauma 2016, to be held in Munich, Germany, in April.
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Outa mulls legality of Sanral SMSs to motorists
The Opposition to Urban Tolling Alliance (Outa) is investigating whether the latest messages sent by the South African National Roads Agency Limited (Sanral) to motorists with outstanding e-toll bills were unlawful in terms of the communications framework governing South Africa. Outa chairperson Wayne Duvenhage on Friday said the roads agency was sending “intimidating” unsolicited SMSs with no opt-out option to motorists to scare them into paying up for the use of tolled Gauteng freeways.
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Comair warns of 50% drop in H1 earnings
Aviation group Comair continued to experience a contraction in earnings and reversal of revenue growth in the half-year to December 2015 on the back of a decline in average market fares. The group on Thursday said it expected earnings per share (EPS) a…