Latest news with #RequestforInformation
IOL News
26-05-2025
- Business
- IOL News
Transnet gets R51 billion government guarantee boost to continue with recovery plan
Minister of Transport Barbara Creecy has this week approved a R51 billion guarantee facility for Transnet. The State-owned freight and logistics group plays a central role in the South African economy and the government's goal of inclusive growth. Image: Supplied Minister of Transport Barbara Creecy has approved a R51 billion guarantee facility for Transnet, effective immediately, in a bid to bolster the State-owned freight and logistics group. This financial backing, which was granted with the concurrence of the Minister of Finance, aims to support Transnet's vital capital investment programme and assist the entity in meeting its debt obligations amidst ongoing reforms. Transnet's significance cannot be understated; it serves as a cornerstone of the South African economy, playing a critical role in facilitating the government's goal of inclusive growth. Currently, Transnet is undergoing a comprehensive reform programme designed to enhance its operational performance as it strives to address longstanding financial, operational, and governance challenges that have impeded its ability to deliver on its strategic mandate. As part of its trajectory towards improvement, Transnet reported a successful record of transporting the equivalent of 161 million tons of freight on its rail network by March 2025. Notably, the entity had also released its 2024/25 Network Statement by December 2024, which introduces private sector operators into the freight rail domain. Anticipation builds as announcements of the first successful bidders are expected to be made by the end of July. In a continued effort to promote private investment, the Department of Transport issued a Request for Information (RFI) earlier this year for private investors focusing on five pivotal freight corridors and associated ports. With the deadline for the RFI closing on 31 May, the department said Transnet was on track to issue Requests for Proposals by September, aiming to attract further capital while maintaining State ownership of the network. To navigate immediate capital investment needs, Transnet has introduced project-based applications to the Budget Facility for Infrastructure. Additionally, collaboration is underway with National Treasury and the Presidency to formulate a joint funding policy aimed at facilitating swift capital improvements through private sector involvement in priority freight corridors. The decision to grant this crucial guarantee facility resulted from ongoing discussions between National Treasury and the Department of Transport, recognising the progress Transnet has made. The financial package, amounting to R41bn, is set to address the entity's funding requirements across the 2025/26 and 2026/27 financial years, complemented by a R10bn guarantee specifically allocated for liquidity management, focusing on the servicing of maturing debt and related capital investments. This marks a continuation of support initiated in December 2023, when a R47bn guarantee support facility was announced, enabling Transnet to implement its Recovery Plan for the fiscal years 2023/24 and 2024/25. This plan has been pivotal in galvanising increased capital investments and enhancing liquidity for the entity. A Guarantee Framework Agreement will formalise the responsibilities between the Department of Transport and National Treasury, establishing reviewable conditions for the guarantees. According to the department, any drawdowns by Transnet will be contingent on compliance with these conditions, which will centre on operational requirements and reforms in the logistics sector. Creecy expressed her confidence that the additional financial support provided to Transnet will catalyse further improvements in operations and accelerate the reforms laid out in the Freight Logistics Roadmap. She said this bold move was seen as a significant step towards fostering a more efficient and robust infrastructure for South Africa's freight and logistics industry. Meanwhile, Transnet welcomed the government guarantee facility to support its sustainability and long-term growth. Transnet said the facility will enable it to refinance maturing debt and ensure the organisation's continued access to adequate resources and facilities to be able to continue its operations as well as fund the capital investment programme for the foreseeable future. "It will also enable Transnet to focus on operational improvements and strategic reforms. In line with existing Guarantee Framework Conditions, Transnet has made significant strides in implementing rail and port reforms. In pursuit of enhanced partnership and collaboration, several key Private Sector Participation (PSP) transactions are being implemented," Transnet said in a statement. "PSPs are a key element of the organisation's strategy to modernise its operations and infrastructure and grow the logistics sector for the benefit of the economy. With government's commitment to support its recovery and strong collaboration with customers and industry partners, Transnet is on course to recover and fulfil its strategic role in the South African economy." BUSINESS REPORT Visit:
Yahoo
13-05-2025
- Business
- Yahoo
Ethics Commission accuses retired MBTA manager of violating conflict of interest law
The Massachusetts State Ethics Commission publicly accused a retired MBTA official of violating the state's conflict of interest law in an Order to Show Cause on Tuesday. The commission alleges that former Environmental Compliance Manager Thomas Daly — who retired in January 2024 — unfairly favored his friend's recycling company during selection processes for awarding MBTA contracts and work orders, it announced in a press release. The commission alleges that Daly and the recycling company owner have been friends since at least 2017, and that the company also employed Daly since at least 2019. In 2017, Daly is alleged to have sent his friend technical specifications for a Request for Proposals (RFP) the MBTA planned to send for a comprehensive waste management program. After the MBTA issued the RFP in 2019, Daly served on its selection committee and inflated his bid evaluation scores for his friend's company, giving it an unfair advantage, the commission alleges. The MBTA ultimately awarded Daly's friend's company a three-year contract worth $1.3 million per year. Daly then helped the MBTA procure a successor waste management program that would go into effect when his friend's company's contract expired in June 2024. The commission alleges that he once again worked to unfairly advantage his friend's company during the selection process for this program. Daly also gave his friend other companies' responses to a 2022 RFP for the disposal of Orange Line cars and a 2023 Request for Information for MBTA 'waste-recycle management,' according to the commission. Finally, Daly is alleged to have recommended his friend's company to the MBTA's procurement manager for a rubber disposal project. The MBTA ultimately awarded the company a $16,000 work order for the project. The commission will schedule a public hearing to address the allegations against Daly within 90 days. It can impose a civil penalty of $10,000 for each violation of the conflict of interest law. How to claim a portion of major child booster seat class action settlement Mass. weather: Heavy clouds possible Wednesday before nighttime rain Person dies after daytime shooting in Roxbury Leominster man admits to trying to stab flight attendant in the neck with a spoon Springfield protests loss of $20M federal grant to protect environment Read the original article on MassLive.
The Citizen
12-05-2025
- Business
- The Citizen
Government-business partnership to accelerate delivery
Senior business leaders met with President Cyril Ramaphosa and ministers under the Government Business Partnership recently. The partners in the government-business partnership to accelerate delivery – the BLSA partnership have agreed to fast-track the implementation of key structural reforms and support performance improvements at Transnet and Eskom through an accelerated delivery plan and an intensified phase of its ongoing efforts to expedite delivery on priority interventions vital to economic growth and job creation. Busisiwe Mavuso, CEO of Business Leadership South Africa (BLSA), says in her latest newsletter that the Government Business Partnership, established in 2023, is focused on accelerating crucial reforms and operational improvements to lift confidence levels and drive economic growth in four priority areas of energy, transport and logistics, crime and corruption and youth employment. Youth employment was added in January 2025. 'The partnership believes that this acceleration is necessary to achieve a step-change in progress in response to difficult economic headwinds. Focus will remain on improving Eskom's Energy Availability Factor (EAF) and unblocking delays in new generation capacity to ensure a continued reprieve from load shedding. 'Work is underway to resolve grid access and allocation bottlenecks that hinder new generation projects. While Transnet's performance is not at the level required, it has stabilised and there is a significant focus on growing volumes, which will increase exports and revenue collected to support economic growth and preserve and grow employment.' ALSO READ: Government must keep momentum in partnership with business Accelerated delivery needed in complex environment She emphasises that expediting reforms and performance improvement is crucial to reduce the possible negative impact of the complex global and domestic environment, which continues to present substantial challenges and uncertainty. Gross Domestic Product (GDP) growth projections for 2025 have been revised down and current forecasts remain far below the minimum of 3% economic growth required to create the level of jobs needed to make an impact on the country's high levels of unemployment, she says. According to Mavuso Ramaphosa said: 'Through the strength of this partnership, we have been able to unlock many constraints that undermine growth and job creation. While there is much to improve, the dedication and commitment from both government and business remains undiminished. The pace of our work must increase to match the scale of the challenge.' She says important progress has been made to lay the groundwork for sustained accelerated action, including the finalisation of the Transnet Network Statement, the launch of a Request for Information (RFI) to attract private investment in port and rail infrastructure and Nersa's approval of electricity wheeling regulations. 'These reforms enable broader private sector participation in energy, transport and logistics. Both the crime and corruption and the youth employment focal areas are largely tracking against their plans which have a longer-term time horizon.' ALSO READ: Housing, local gov and digital transformation at the forefront of Operation Vulindlela phase II Partnership welcomes second phase of Operation Vulindlela In line with the commitment to focused execution, the Partnership welcomed the launch of the second phase of Operation Vulindlela, which has a delivery focus that closely aligns with the Partnership's objective of more rapidly accelerating reforms and operational improvements that will drive growth and job creation, Mavuso says. She says at the meeting Adrian Gore, vice president of Business Unity South Africa (Busa) and business co-convenor of the Partnership, said: 'We are entering this accelerated execution 'sprint' with a real sense of urgency. 'Progress has been made, but it is not enough. This requires a step change in the pace of decision-making and execution. We need to redouble our collective efforts to help shift the country onto a sustained upward trajectory and deliver on our shared ambition of a virtuous cycle of growth, jobs, a more positive narrative and increased investment.'
Zawya
25-03-2025
- Business
- Zawya
South Africa: Creecy unveils private sector role in revitalising rail and port infrastructure
Transport Minister Barbara Creecy has officially unveiled a Request for Information (RFI), aimed at transforming the country's struggling rail and port infrastructure through strategic partnerships with the private sector. 'Today, I am launching an online request for information to develop an enabling environment for Private Sector Participation (PSP) and enhance investment in rail and port infrastructure and operations,' Creecy said during a media briefing on Sunday, 23 March 2024. The Minister described this decision as a significant step in the government's efforts to partner with the private sector, ensuring that the country's rail network and ports reclaim their crucial role in enhancing trade and driving economic growth. Creecy highlighted the urgent need for intervention, citing significant challenges, including infrastructure deterioration, vandalism, theft, underinvestment, and operational inefficiencies that have hindered economic growth. 'The limited availability of state resources to fund infrastructure development and address backlogs has intensified these challenges, severely restricting the ability of State Owned Entities (SOEs) to fulfil their critical mandates,' she explained. The Minister told journalists that Transnet and the government have received many 'unsolicited' proposals from the private sector offering investment skills and expertise to support the rehabilitation and reform of our struggling rail and port systems. 'This overwhelming interest has made it clear to the department and Transnet that we must engage in broad and inclusive market research before issuing requests for proposals in August this year.' However, according to the Minister, these processes are not formal procurement methods but rather a mechanism to gather and analyse information from the market. She stated that the government recognises the importance of understanding the freight logistics landscape from the perspective of interested and affected parties. The Minister believes that this will ensure that solutions are both effective and sustainable during this initial phase of PSP. The RFI targets key mineral export routes, including the corridor from the Northern Cape to Saldanha for iron ore and manganese exports, as well as the routes from Limpopo and Mpumalanga to Richards Bay for coal and chrome exports. In addition, there is an intermodal supply chain project that focuses on the container and automotive sectors. This project encompasses the port, container, and automotive port terminals, as well as back-of-port arrangements and railway and inland terminals. It will also address the corridors connecting Gauteng and KwaZulu-Natal (Durban), Gauteng and Eastern Cape (East London, Port Elizabeth and Ngqura), and Gauteng and Western Cape (Cape Town). 'The RFI represents a pivotal step forward in our shared commitment to building a 21st-century transport system that goes beyond mobility to strengthen industrial competitiveness, deepen regional integration, and drive inclusive economic growth.' Creecy believes this move will help the department express challenges in a structured and coherent manner, clearly defining their scope, context, and impact to guide the development of focused, strategic, and sustainable solutions. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
Reuters
20-02-2025
- Business
- Reuters
New York seeks to lead in advanced reactor deployment
Summary New York has taken steps to become a hub for small modular reactor (SMR) development by releasing a nuclear strategy and requesting federal funding amid rising electricity demand. February 20 - New York Governor Kathy Hochul launched a Master Plan for Responsible Advanced Nuclear Development on January 14, which will be guided by a blueprint by the New York State Energy Research and Development Authority (NYSERDA) published on the same day. The announcements follow a Request for Information (RFI) to gauge market interest in developing advanced nuclear energy technologies that New York issued in November. The blueprint lists large (AP1000s) and small light-water reactors, liquid and solid-fueled molten salt reactors, sodium fast reactors and high temperature gas reactors as potential technologies that could be deployed to meet the state's energy needs. NYSERDA also included fusion energy as an option. 'New York has been working on this plan for quite a while, but they accelerated it and created a blueprint to intentionally try to not miss the moment of extreme demand growth,' Adam Stein, director of nuclear energy innovation at the Breakthrough Institute, told Reuters Events. Driven by strong demand from data centers and other large load customers, U.S. electricity demand is expected to increase by 3% annually for the rest of the decade – a rate of growth not seen since the 1990s. According to NYSERDA, New York's power generation must at least triple, from 37 GW in 2022, as demand is forecast to surge by between 50% and 90% over the next two decades. CHART: Forecast US data center electricity demand Also in January, NYSERDA and Constellation Energy requested funding from the U.S. Department of Energy to attain an early site permit from the Nuclear Regulatory Commission (NRC) to build one or more advanced nuclear reactors at Constellation's Nine Mile Point Clean Energy Center on the shore of Lake Ontario. 'There is a lot of speculation on which technology they plan to use, but it isn't necessary to identify one at this stage of site planning," Stein said. Constellation holds a minority interest in Rolls Royce SMR development in Europe but that may not be an indicator on their technology preference in the U.S., he said. 'NYSERDA might prefer to be second or third in building a design that already has first-mover commitments,' Stein added. Through the blueprint, New York is telling developers of advanced nuclear reactors and investors that it wants to engage and cooperate with them, while the partnership with Constellation signals that there will be proactive support for the sector, according to Judi Greenwald, executive director of the Nuclear Innovation Alliance. 'All of the above' approach Deep-pocketed tech companies are investing billions in SMR companies such as X-Energy, Oklo and Kairos Power as they race to secure more generation capacity for their power-hungry data centers. Join us at Reuters Events SMR & Advanced Reactor 2025 and network with over 600 utilities, developers, financiers, technology suppliers and regulators. Advanced nuclear technologies are still in the exploratory stage, so it's too early to know to what the extent they will be deployed in New York, Doreen Harris, NYSERDA president and CEO, told Reuters Events. Zach Koshgarian, an analyst at the Nuclear Innovation Alliance, said that New York 'is looking at an all of the above nuclear approach — considering a lot of different types of technologies,' including large nuclear reactors. 'The point of putting out the blueprint and the RFI is to gauge interest within New York State, and to see how advanced nuclear energy could be applied to help meet climate and clean energy commitments,' Koshgarian told Reuters Events. The plans of Micron, a microchip fabricator, to build a manufacturing campus to make dynamic random-access memory chips in central New York, which will use 100% renewable electricity, underline the state's need for increasing generating capacity. The Micron facility is expected to use 16 gigawatt-hours per year when completed, according to the Sierra Club environmental group, which is nearly equivalent to the total generated by the two nuclear reactors at Constellation's nearby Nine Mile Point nuclear generating station. For exclusive nuclear insights, sign up to our newsletter. Microsoft and Amazon Web Services signed agreements with nuclear power plant owners to supply electricity to data centers in neighboring Pennsylvania in 2024. If New York wants to attract large data centers and advanced manufacturing facilities, there needs to be an increase in emissions-free generating capacity, according to Stein and Koshgarian. Bolstering nuclear capacity will also help New York meet its aggressive climate goals. The state has pledged to have a zero-emission electricity sector by 2040. 'We know that we are going to need tens of gigawatts of these types of projects that we describe as dispatchable, emissions free resources that can be very complementary to renewable resources that we are deploying also at a large scale,' Harris said. CHART: New York power generation by technology (October 2024) With 3.3 GW of capacity, nuclear power accounted for roughly 22% of New York's utility-scale net generation in 2023, which is down from 34% in 2019 before the Indian Point nuclear power plant was shut down, according to the U.S. Energy Information Administration. 'A few years ago, New York was thinking more about closing [nuclear] plants than building new plants, and I would now say that has really turned around, and people are realizing the value of these existing plants,' Greenwald said. 'I think most of these will be relicensed, not closed, because they provide so much clean, firm power.' Nuclear renaissance President Donald Trump is expected to continue with the ambitious goals to expand nuclear capacity set out by the Biden administration. Last November, the Biden administration pledged to more than triple U.S. nuclear capacity by deploying 200 GW of net new nuclear capacity by 2050. Strategies to overcome cost hurdles for new nuclear - download our webinar. Trump's Secretary of Energy Chris Wright, a former Oklo board member, has pledged to promote next-generation nuclear technology to help unleash a 'long-awaited American nuclear renaissance.' Other states have also announced plans to support advanced nuclear power developers. In November, Texas Governor Greg Abbott and the Public Utility Commission of Texas released a report stating that additional funding and regulatory changes could make the state a global leader in advanced nuclear energy. Wyoming, Michigan and Virginia are also trying to attract nuclear investments. And New York is working with other states to promote the development of advanced nuclear projects. The National Association of State Energy Officials (NASEO) launched the Advanced Nuclear First Mover Initiative on February 5. As part of this effort, New York and nine other states pledged to develop policies that will cut the cost of building advanced nuclear plants. 'If states are aligned and agree on a standardized advanced reactor design, this could make the idea of orderbooks of nuclear reactors come to fruition. The state collaboration will also be critical to achieving a learning-by-doing model and creating economies of scale, which will all help drive down the cost of new nuclear,' Koshgarian said.
