The details of the ill-fated tender were contained in Stefanutti Stocks’ results for the year ending 29 February 2024.
The company highlighted that its financial difficulty in the past few years stemmed from a 2008 Eskom tender. However, there were consistent delays in completing the Kusile project due to site access and construction problems. Due to the delays, the company incurred significant prolongation costs and approached the DAB to assess Eskom’s claims.
It is under significant debt pressure, with its total liabilities exceeding its total assets for the first time in 2022, deeming the group technically insolvent.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Fuente: News24 - 🏆 4. / 80 Leer más »
Fuente: TheCitizen_News - 🏆 6. / 75 Leer más »
Stefanutti Stocks expects final decision on R1.6bn Eskom claim in Q3Claim relates to building contract at Kusile Power Station.
Fuente: Moneyweb - 🏆 5. / 77 Leer más »