Competition Tribunal approves Raubex’s buyout of Bauba Resources

The Competition Tribunal has unconditionally approved a merger between infrastructure development and construction materials supply company Raubex and mining and exploration company Bauba Resources.

Post-merger, Raubex will attain sole control over Bauba.

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R2bn student accommodation Reit launched in Gauteng

JSE-listed property investor Growthpoint Properties has launched an unlisted, purpose-built student accommodation real estate investment trust (Reit) named the Growthpoint Student Reit. The trust, which was launched in December 2021, has acquired a R2-billion seed portfolio and has been approved by the National Student Financial Aid Scheme.

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Company supplies HDPE pipes for new road in Ogiek

The construction of the new road near Ogiek Secondary School, which is nearly complete, is set to transform the Ogiek community in Njoro, Nakuru County in Kenya by giving them easier access to schools, hospitals and other local amenities.

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Private, public adversity thwarts growth

The state of local public sector infrastructure has been declining for years, while private sector infrastructure has not kept pace with international trends. This infrastructure could be upgraded by the private sector if it were given the chance to grow; however, an “adversarial” relationship between the public and private sectors persists, states construction company M&D Construction CEO Rukesh Raghubir. “Policies adopted by the State and the way in which they are being implemented are not aligned with the private sector, which is driven by profit, low-cost production, economies of scale and sustainability. Private capital flows are, therefore, being diverted from South Africa to other countries that have favorable economic and political landscapes that support business imperatives.”

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V&A festive season footfall recovers, but remains below pre-Covid-19

Mixed-use commercial property company the Victoria and Alfred (V&A) Waterfront says it experienced increased footfall and trade over the traditional festive December period, mainly owing to easing Covid-19-related restrictions. December footfall numbers reached just over 2.2-million visitors, which is a 30% improvement on 2020 figures, but 34% down on the same period in 2019.

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Approvals for Eskom’s ‘exciting’ grid-tied battery project expected in February

Eskom CEO Andre de Ruyter reports that the tender evaluation for Phase 1 of the utility’s battery energy storage systems (BESS) project has been completed and that he expects the final approvals to be in place in February. Speaking during a briefing on the state of the system on Thursday, De Ruyter expressed enthusiasm for the project, which he said would be the first large-scale deployment of grid-tied batteries in South Africa.

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Public Works to release RFP for renewable energy programme this quarter

The Department of Public Works and Infrastructure (DPWI) will publish a request for proposals (RFP) for its Integrated Renewable Energy and Resource Efficiency Programme (iREREP) in the first quarter of this year, it said in a statement on January 27. The iREREP will be the largest programme for the procurement of renewable energy and resource efficiency for public facilities.

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South Africa’s emergency power process nears another deadline

South Africa has made faltering progress toward implementing plans announced more than two years ago to procure additional power needed to swiftly address crippling energy shortages. The Department of Mineral Resources and Energy first issued a request for information from potential electricity suppliers in December 2019. A year later it listed 28 interested bidders, and in 2021 it chose the winners of contracts to generate about 2,000 megawatts of capacity under its so-called Risk Mitigation Independent Power Producer Procurement Programme.

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Vukile’s subsidiary acquires 22% stake in a fellow Spanish Reit

JSE-listed Vukile Property Fund’s 88%-held Madrid-listed subsidiary, Castellana Properties Socimi, has acquired a 21.7% shareholding in its market peer Lar España Real Estate Socimi. The transaction, valued at about €100-million, represents an investment with outstanding synergies, posits Vukile in a statement.

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Macsteel business launched to support construction industry

Steel products distributor Macsteel has established Macsteel Foundation Solutions, which provides customers in the construction industry with steel-based construction and innovative lateral support services and products The new business is part of the company’s strategy to reimagine and reengineer its business model to drive growth for the company and create value for construction-sector customers and across untapped markets in Africa.

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