Doing business with SA
Floating power stations – ships that are either anchored offshore or moored at quayside and
transmit power through undersea cables – are proving to be a quick-fix to electricity supply
problems around the world.
South Africa estimates its "blue gold" could contribute as much as R177-
million to the economy by 2033. With two major port cities and its established
industrial development zones, the Eastern Cape is set to become the hub of this
maritime economic activity.
Work has reportedly begun on the Chinese-financed R84-billion super city in
Modderfontein, east of Johannesburg. Shanghai Zendai plans to turn the 1 600-
hectare property into 'Africa's New York', developing a financial hub with 35 000
houses, an educational centre, medical centre and a sports stadium.
Although constrained, South Africa's power system is expected to remain stable for
the rest of the festive season, according to power utility Eskom, which will use the
period for intensified maintenance.
Standard & Poor's and Fitch both kept their ratings of South Africa steady on Friday.
They were confident that The Treasury was committed to tight fiscal discipline, but
warned that weak economic growth, industrial action and persistent electricity
shortages kept their outlook negative.
More stories from this section...