Stefanutti Stocks secures R110m from Eskom for disputed work at Kusile

Stefanutti Stocks has secured payment of R110 million from Eskom for measured work, as well as rulings by the Dispute Adjudication Board since August 2021, related to contracts it secured in joint ventures for Kusile Power Station. Russell Crawford, CEO of the JSE-listed construction group, said on Thursday that substantial variations are still being agreed with Eskom.

The second statement refers predominantly to an agreement in terms of which ABB SA agreed to pay Eskom R1.56 billion in full and final settlement of an overpayment dispute, relating to a contract unlawfully awarded through corrupt means for work at Kusile. Recoveries from McKinsey, Deloitte and others There are also brief references to the recovery of money from certain contractors, including R1.1 billion from McKinsey and R171 million from Deloitte Consulting, and the R3.

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