Tag: nuclear

SA’s R1 trillion nuclear plans kick off in June

South Africa’s new nuclear programme will start in June, according to a report by the City Press.

A confidential document reveals that a formal request for proposals from companies will be issued, with the total contract worth an estimated R1 trillion.

The nuclear deal going forward is directly related to President Jacob Zuma firing finance minister Pravin Gordhan, as Gordhan was against the project, stated the report.

The Sunday Times also reported that Eskom tabled a presentation to the National Treasury indicating it was ready to buy nuclear power two days before Zuma fired Gordhan.

The successful bidder will be appointed in March 2018.

“Ratings agencies Fitch and S&P Global Ratings have cited the nuclear project as one of the reasons for South Africa’s downgrade,” stated the report.

A concern from Treasury officials is that the nuclear plan allows for “turnkey procurement”, which “is often used to hide corruption”.

This allows the management company to appoint all contractors and service providers.

National Treasury recently denied allegations that a nuclear deal was signed by new finance minister Malusi Gigaba, following a post on Facebook by an ANC member.

The member also alleged that Zuma’s nephew Khulubuse Zuma would benefit from nuclear plants being built.

Source: www.businesstech.co.za

Follow us on social media: 

               

View our magazine archives: 

                       


My Office News Ⓒ 2017 - Designed by A Collective


SUBSCRIBE TO OUR NEWSLETTER
Top