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Construction Industry continues to grapple with ‘Mafias’

SA’s distressed construction sector is facing a host of issues including the so-called construction mafia – popularly known as the “business forums”. ... Full story

Another twist in the ongoing saga between Aveng and The Leonardo

THE matter involving developers of The Leonardo, the R3 billion Sandton skyscraper - who booted out construction firm Aveng, takes a new twist as Aveng now seeks an adjudicator.

There’s trouble bubbling at Sandton’s skyscraper — The Leonardo

The developer of the R3 billion Sandton skyscraper, the Leonardo, has shown the troubled construction company, Aveng, the exit door after terminating its contract.

Sephaku reveals cost-cutting plan despite net profit rise

Building and construction-materials group, Sephaku Holdings, says it has embarked on a cost-reduction programme aimed at reducing head office expenses.

Colluding Construction giants reach aggreement with Government

Construction companies that colluded around the 2010 Fifa World Cup Stadium projects, have paid their first sum of R117m in terms of the settlement agreement they entered into with the National Revenue Fund.

Peter Nelson appointed new chairman of PPC

Cement maker, PPC last month named Peter Nelson to replace Bheki Sibiya as its new chairman.

BEE group acquires Murray & Roberts' infrastructure and building unit

Engineering and construction group, Murray and Roberts (M&R) sold its infrastructure and building business for R314 million to a black economic empowerment group‚ Firefly Investments.

PPC shares give up gains after headline earnings warning

PPC's share price plunges more than 14.5% to R4.87 as it warns shareholders at its annual general meeting that its interim headline earnings a share could fall as much as 85%.

Afrimat's interim earnings up 25%

Afrimat‚ which supplies industrial minerals and construction materials‚ on Thursday reported a 25.3% rise in headline earnings per share (HEPS) to 95.2c in the six months to August from the year-earlier period.

Colluding construction firms agree to pay R1.5bn to help transformation

The South African Government reached an agreement with seven listed construction groups found to have participated in collusion. The companies will contribute R1.5 billion to help black-owned partners grow.

Competition Tribunal confirms Aveng deal

Competition Tribunal on Wednesday confirmed an immunity agreement between JSE-listed construction group Aveng struck with the Competition Commission.

Basil Read sure it is blameless over St Helena

Basil Read continues to be buffeted by the R4.6bn St Helena Airport it is building on behalf of the British government, despite the UK department for international development confirming there are no legal claims around wind-related project delays.

Black women-owned company to buy majority stake in Aveng

Kutana Construction, a black women-owned and led company, will buy a majority 51% stake in Aveng subsidiary Aveng Grinaker-LTA, which services infrastructure, energy, rail and mining markets in Africa.

Murray & Roberts to take part in bid-rigging settlement deal

Murray & Roberts has opted to participate in a R1.25bn “voluntary” settlement agreement between construction companies and the government to allay competition authority penalties and accelerate transformation in the industry.

Construction boss monster pay in the spotlight

South Africans remain alert for overly generous bonus and pension packages paid to senior executives. Salaries in business and government have recently sparked vigorous debate in the country.

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