Saturday, July 19, 2008
(AMM) Eskom outlines power expansion plan
The metals industry watched intently last week as state-owned, South African power company Eskom Holdings Ltd. announced how it plans to fund a 343-billion rand ($45.04-billion) capacity expansion program.
The metals industry watched intently last week as state-owned, South African power company Eskom Holdings Ltd. announced how it plans to fund a 343-billion rand ($45.04-billion) capacity expansion program.
South Africa is suffering a severe power shortage resulting from government delays of the utility's expansion program. The country's power issues must be resolved if heavy industry there is to expand.
To address the shortfall, Eskom now plans to spend billions over the next five years to boost generating capacity by 11 percent to 47,681 megawatts.
Jacob Maroga, Eskom chief executive officer, said that the company will borrow up to 150 billion rand ($19.7 billion) from local and international capital markets. About 60 percent of...
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