JSE-listed construction group Stefanutti Stocks, which has submitted provisional claims to the total value of R1.14 billion to Eskom for work done on the Kusile Power Station project, has expressed confidence its final payment application is accurate. Stefanutti Stocks CEO Russell Crawford said on Thursday the group has therefore not made any provision for overpayment.
The group expressed confidence the termination was lawful and has therefore not made any provision for it. It added that the arbitration related to the cancellation of a petrochemical contract had to be postponed due to a fundamental change in the client’s defence and a date for the arbitration is yet to be set. “At this stage the financial impact thereof cannot be quantified,” it said.