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Positive performance, outlook for construction industry

There has been a very good increase in the value of buildings completed in larger municipalities during the second quarter of this year, to the tune of almost 7%, which presents a recovery from the sluggish growth of the first quarter of the year, the latest Afrimat Construction Index (ACI) shows. The ACI is a composite index of the level of activity within the building and construction sectors and is compiled by economist Dr Roelof Botha on behalf of openpit mining company Afrimat.

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Sanral awards R1.65bn Msikaba megabridge contract to Concor Mota-Engil JV

The South African National Roads Agency Limited (Sanral) has awarded the Concor Mota-Engil joint venture (JV) the second of two megabridge construction contracts as part of the N2 Wild Coast project.

The R1.65-billion bridge will be built near Lusikisiki over the Msikaba gorge.

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PSV brings on board two key partnerships to drive strategy going forward

AltX-listed industrial holding company PSV Holdings has finalised an equity transaction with Regis Holdings and concluded a broad-based black economic empowerment (BBBEE) partnership with Beryl Holdings Partners.

Regis is a Mauritanian-headquartered investment holding company, and Beryl Holdings is a subsidiary of diversified investment company Beryl Group.

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Ngqura Port celebrates milestone

The developing Port of Ngqura, owned by Transnet National Ports Authority, celebrated a milestone this week, with the arrival of the first vessel discharging cargo for Osho Cement. Osho Cement is a new cement manufacturer currently under construction in the Coega Special Economic Zone (SEZ), in Port Elizabeth.

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ELB to focus on IoT for service optimisation, profits up 35% for FY18

JSE-listed capital equipment supplier and services provider ELB Group reported a 35% increase in profits to R111-million for the financial year ended June 30, compared with R82-million in the prior year.

This was on the back of higher sales across all group segments – sales increased by 50% to R3.7-billion in the period under review, compared with R2.4-billion in the prior year – and continuing improvements in market penetration within the company’s equipment and Australasia segments.

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Sanral completes road improvements on R510

The South African National Road Agency Limited (Sanral) has completed repairs to and the resealing of the 61-km-long R510, which runs from Rustenburg, in the North West, to the Limpopo border. “The road is now much more comfortable for drivers and safer for pedestrians. It has brought some considerable economic benefits to emerging contractors and suppliers in the area,” Sanral project manager Nontobeko Mathenjwa said in a statement issued on Wednesday.

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Abland to develop combined-use Menlyn Maine Towers

Property developer Abland will develop a combined motor dealership and premium office space, called Menlyn Maine Towers, in Pretoria, and aims to achieve a 4-star green rating accreditation with the Green Building Council of South Africa. The development for the Barloworld Toyota Menlyn dealership will include a 16 000 m2 dealership, with 12 000 m2 of premium office space above the dealership, creating 15 floors in total, with potential for rooftop or penthouse offices.

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Global steel production, consumption growth to slow – Fitch

Growth in global production and consumption of steel in expected to slow over 2018/19, following a significant rebound since early 2016, Fitch Solutions Macro Research’s recently published ‘Global Steel Outlook’ report states. The global market will post a narrowing deficit of 7.4-million tonnes this year, following 2017’s deficit of 10.7-million tonnes. The global surplus is forecast to average 700 000 t from 2018 to 2027, compared with an average deficit of 1.9-million tonnes from 2013 to 2017.

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CEO Initiative to support government’s investor outreach at October summit

The CEO Initiative is putting its weight behind President Cyril Ramaphosa’s plans for increasing levels of investment and stimulating growth in the recession-afflicted South African economy. The CEO Initiative draws in business leaders from various sectors and rose to prominence during Pravin Gordhan’s second stint as Finance Minister, after President Jacob Zuma’s highly criticised decision to remove Nhlanhla Nene from the position and replace him with Des van Rooyen.

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Tower Property acquires prime industrial property in Croatia

Tower Property Fund’s Croatian subsidiary TPF International has acquired a prime industrial property in Zagreb, Croatia, for nearly €8.6-million. TPF will fund the purchase price, which is payable in cash on the transfer date, using 60% cash and 40% shares.

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