The R8 investment that could be worth R1.7 trillion — Big plans for South Africa’s first helium plant in 2023

  • 📰 mybroadband
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 67%

Business News News

Business Business Latest News,Business Business Headlines

Renergen believes its Virginia Gas Project could be sitting on the biggest helium reserve in the world, and it plans to start producing liquid helium soon after suffering a big setback in 2022.

That is if plans for Renergen’s Virginia Gas Project, the country’s first and only on-shore petroleum production facility, can get back on track in the coming months.to start producing liquid helium in July 2022 was delayed.

In the latter case, helium is used to purge hydrogen systems, pressure ground and flight fluid systems, and as a cryogenic cooler, among several other uses. That would make it bigger than all the known reserves in the United States, which is currently the world’s largest helium producer.More conservative estimates put the reserve at around 920 million cubic metres, but that would still be a substantial find.

Renergen’s main customers for LNG are Ardagh Glass Packaging and Ceramic Industries, a division of Italtile. Renergen said the component was incorrectly installed, leading to inconsistent conduction oil heating.“There was a significant amount of expectation, both internally and externally, and the failure by a system which wasn’t even part of the plant was truly unfortunate in that it delayed helium production,” Marani said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

It's not an investment it's theft. They quite obviously bribed government officials to give away land belonging to the citizens. Let's stop pretending like Western entities are new to this stealing land thing. This is nothing to celebrate.

DividendPapi maybe this will convince you lol

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 11. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

SA business: 21 burning questions that will be answered in 2023 | Business2023 looks set to be an eventful year in the South African business landscape. Here are some of the biggest developments you can expect. | News24_Business
Source: News24 - 🏆 4. / 80 Read more »