A group of local BEE partners for the government’s controversial Karpowership deal are accusing Turkish company Karadeniz of trying to get them kicked out of the transaction in favour of other partners, Sunday TimesThe empowerment partners from Powergroup SA hold a 49% stake in the deal, while Karadeniz holds the remaining 51%.
Sources told Sunday Times that the talks with Mokgokong started because Karadeniz was frustrated that Powergroup SA had failed to come up with the $10 million required for the project’s working capital. Karadeniz had reportedly already put down its portion of the money. He stressed that the Powergroup team were not influential billionaire black capitalists but “aspiring” black South Africans with the requisite skills to bring the project to its current status.
The Council for Scientific and Industrial Research previously estimated the deal could cost roughly R228 billion over 20 years. But according to Karpowership’s chief commercial officer Zeynep Harezi, the power ships would cost South Africa less than R15 billion a year, making them much more cost-effective than using diesel-powered open-cycle gas turbines for emergency power.Screenshot from a segment of Annika Larsen’s interview with Karpowership’s Zeynep Harezi, aired on Wednesday, 9 August 2023. Credit: YouTube/eTV
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