27 March 2013South African state-owned freight logistics company Transnet has signed a “ground-breaking” agreement with the China Development Bank that is expected to yield a loan in the region of US$5-billion (R45-billion) to help finance the country’s massive rail infrastructure upgrade programme.The agreement, signed during a meeting between President Jacob Zuma and Chinese President Xi Jinping in Pretoria on Tuesday, would enable Transnet and the China Development Bank to “identify opportunities … for future collaboration in Transnet’s infrastructure upgrade programmes,” Transnet said in a statement.The cooperation agreed upon would include “the financing of the construction and upgrade of railway and port infrastructure and localisation of equipment manufacturing.“In addition, the two agreed on future collaboration on research and development initiatives, manufacturing, marketing and the construction of cross-border infrastructure throughout the continent,” Transnet said.Transnet Group chief executive Brian Molefe said the agreement, signed as the 5th BRICS (Brazil, Russia, India, China and South Africa) summit got under way in Durban on Tuesday, was proof of the opportunities created by South Africa’s membership of the grouping.Transnet last year announced an unprecedented R300-billion capital investment programme to revamp and expand its ports, rail and pipelines infrastructure and equipment, saying it would create over half-a-million new jobs while making its freight rail division the fifth-largest in the world.The company plans to spend the lion’s share of this, R205-billion, on rail projects – R151-billion on freight rail – as it pushes to increase its freight rail volumes from about 200-million to 350-million tons by 2019, while increasing its market share of South African container traffic from around 79% to 92%.This increase would significantly reduce the cost of doing business in South Africa, Transnet said at the time, citing internal studies showing that rail in the country was on average 75% cheaper than road transport.The company said that about two-thirds of the required funding for the programme would be raised internally and the remainder in the international debt capital market.As part of this programme, Transnet has already awarded contracts to a number of manufacturers, including the United States’ General Electric, Finnish crane maker Kalmar, and China South Railways.In October, a consortium led by Chinese manufacturer CSR Zhuzhou Electric Locomotive (CSR) was named as the winning bidder to supply Transnet with 95 electric locomotives.Transnet will pay R2.6-billion (about $300-million) for the 95 locomotives, the first 10 of which are being assembled in CSR’s factories in China, while the remainder will be made in South Africa.SAinfo reporter
11 November 2013 South African President Jacob Zuma has expressed his condolences to President Benigno Aquino, the government and the people of the Philippines in the wake of Super Typhoon Haiyan. The typhoon struck the Philippines on Friday, killing at least 10 000 people and leaving hundreds of thousands displaced. “During this time of pain and suffering, particularly in the case of those who have lost loved ones, please be assured that the government and people of South Africa share in your sorrow,” Zuma said in a statement on Sunday. “We trust that the resilience of the people of the Philippines, that has seen them through very difficult times in the past, will help them overcome this great loss and devastation.” According to reports, Typhoon Haiyan is one of the most powerful storms on record to make landfall and is now bearing down on Vietnam, where tens of thousands of people are currently being evacuated. The Department of International Relations and Cooperation said on the weekend that its consular services were keeping in contact with South Africa’s embassy in the Philippines for regular updates. Source: SAnews.gov.za
State Industries Minister Subhash Desai said on Monday that opposition from grampanchayats in project-affected areas had made it difficult to acquire land for the west coast oil refinery at Nanar in Ratnagiri district.Reading out a statement in the Assembly, Mr. Desai said there are 14 project-affected villages under nine grampanchayats. “All nine grampanchayats have passed a resolution opposing the oil refinery. Since a policy has been accepted as per the Land Acquisition Act, 2013, to acquire land only with the consent of the owners, it will be difficult to proceed with land acquisition,” the Shiv Sena leader said.He further said Sena chief Uddhav Thackeray and the project-affected persons (PAPs) met Chief Minister Devendra Fadnavis on February 15 and submitted thousands of letters from locals opposing the project. The CM assured them the project would not be forced on people, and hence Memorandum of Understanding for the refinery was not signed in the Magnetic Maharashtra summit.Mr. Desai said, “I have written to the CM, appealing him to make public his decision regarding the refinery considering intense opposition from the locals.” Mr. Desai was interrupted by slogans from Nationalist Congress Party (NCP) MLA Bhaskar Jadhav and Congress MLAs Prithviraj Chavan and Nitesh Rane, among others. Mr. Jadhav said the minister’s statement did not abide by the rulebook, since he was replying to a starred question which was not even discussed. “How can the minister make a statement on an issue which was not even discussed? Isn’t it only a political stunt to ensure no blame goes to him?” Mr. Jadhav asked.Mr. Chavan said the issue was brought up because it is politically sensitive. “How can the Speaker even allow the minister to make a statement [on the refinery]?” the former chief minister asked.Nationalist Congress Party (NCP) MLA Ajit Pawar said the Opposition wanted to discuss the Nanar refinery issue in detail, and a special discussion be held in the ongoing budget session, to which Mr. Fadnavis replied in the affirmative.The proposed west coast refinery, which will be biggest in the country, is expected to bring in investment worth ₹1.5 to ₹2 lakh crore. The Indian Oil Corporation will have 50% stake in it, while Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) will have a stake of 25% each.
BSP sees higher prices in November, but expects stronger peso, low rice costs to put up fight LATEST STORIES Though San Sebastian evened its standing at 6-6, it should find a way to be more consistent if it wants to break its three-year Final Four drought this season.And the only solution for that to happen is for guys like Navarro to churn out solid numbers to compliment the stable showing of Michael Calisaan.5. Rey Nambatac – G, Letran Knights19.5 points, 8.0 rebounds, 1.5 assistsLast Week: N/AOnce again, Rey Nambatac showed that he can be a threat for Letran with or without the ball.The senior guard allowed his teammates to shine in the Knights’ 84-73 win over Arellano on Tuesday.But with Letran seeking revenge against first round tormentor Mapua, Nambatac exploded for 17 first half points to steer his side to an 88-79 victory, enough for it to once again get itself in the conversation as one of the favorites to snare those last two spots.6. Kent Salado – G, Arellano Chiefs23.0 points, 3.5 rebounds, 4.5 assists, 1.5 stealsLast Week: 6For the third straight week, Kent Salado has found himself still at the sixth spot of this list.That’s what you get after another even week despite another solid showing.Salado’s numbers weren’t enough for Arellano to pull off a triumph against Letran on Tuesday, losing 73-84, but with Michael Cañete providing the much needed support, the Chiefs halted their two-game slide on Friday and remained alive in the playoff race. CJ Perez remains a force to be reckoned with for Lyceum, and his greatness is underscored with his supporting cast also delivering.The energetic forward showed that there’s no such thing as a second round slump for him, getting his bearings back to do it all for the Pirates in their 94-83 win over Perpetual.Lyceum may have clinched a twice-to-beat in the Final Four, but Perez knows there the tougher wars still ahead and their 13-0 record won’t mean nothing if the Pirates don’t get the job done in the playoffs.3. Javee Mocon – F, San Beda Red Lions19 points, 15 rebounds, 5 assistsLast Week: 2Photo by Tristan Tamayo/INQUIRER.netJust like Perez for Lyceum, Javee Mocon’s performance was once again the catalyst in helping San Beda notch its 11th straight victory.The hardworking forward’s performance should largely be credited in keeping the Red Lions in the thick of things, especially after their gritty 65-60 victory over JRU on Friday.But Mocon shouldn’t be alone in hoisting the flag for the Mendiola crew, and coach Boyet Fernandez needs Robert Bolick to rekindle his thunder if San Beda dreams of retaining its NCAA title again later this season.4. Renzo Navarro – G, San Sebastian Golden Stags16 points (5/6 3PT), 3 assistsLast Week: N/ARenzo Navarro. Photo by Tristan Tamayo/INQUIRER.netThe littlest man of the court once again made the biggest impact in the clutch for San Sebastian as Renzo Navarro took the spotlight for his side.The diminutive guard waxed hot from downtown, going on a near-perfect clip as he unfurled 12 of his 16 points to aid the Golden Stags nab the huge 73-61 win over St. Benilde. Frontrow holds fun run to raise funds for young cancer patients Just when you thought there’d finally be some clarity in the NCAA, the Final Four race just got more muddled.Pacesetters Lyceum and San Beda have now clinched their respective seats in the semifinals, while cellar dweller Mapua has been the first team to get the boot in the tourney.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutoutBut the seven other teams still have a crack at the last two spots, with a bounce here and a run there potentially deciding who will make it to the next round.Before that, let’s first take a loot at this week’s best seven players in the NCAA.1. Bong Quinto – F, Letran Knights21.0 points, 9.0 rebounds, 2.5 assistsLast Week: N/A Steady is the word for Bong Quinto.The stocky scorer has kept the ship afloat for Letran as it got itself back on track, snapping its three-game losing skid and forcing a third place tie with JRU.Coach Jeff Napa said that the Knights have finally addressed their issues after that funk, and with Quinto being one of the team’s leaders, it shouldn’t come as a surprise if they secure one of those elusive Final Four seats sooner than later.2. CJ Perez – F, Lyceum Pirates21 points, 5 rebounds, 9 assists, 2 stealsLast Week: N/AADVERTISEMENT For the complete collegiate sports coverage including scores, schedules and stories, visit Inquirer Varsity. Ricafort eager to bring energy, help motivate Maroons Kammuri turning to super typhoon less likely but possible — Pagasa View comments With the collegiate season in full swing, INQUIRER lists the week’s top seven performers in the ongoing NCAA Season 93 men’s basketball tournament. From their game statistics to their overall impact in the outcomes, everything is weighed to come up with the best players from the week that was.ADVERTISEMENT At 5-8, Arellano is still just two games behind in the Final Four, but the Chiefs must step up in their next games if they want to make it to the postseason.7. Sidney Onwubere – F, EAC Generals19.0 points, 9.5 reboundsLast Week: N/AEAC remained in the running in the Final Four race, but could not extend its streak to three after suffering an 84-79 defeat to Arellano on Friday.But that wasn’t because Sidney Onwubere didn’t fight for the Generals, as the senior forward gave everything for his side.Still, EAC’s performance should be lauded given that it’s playing without its starting frontcourt, and coach Ariel Sison made it clear that the Generals will go for broke to reach its goal of making it to the Final Four. Nonong Araneta re-elected as PFF president LOOK: Loisa Andalio, Ronnie Alonte unwind in Amanpulo for 3rd anniversary MOST READ E.T. returns to earth, reunites with grown-up Elliott in new ad Don’t miss out on the latest news and information. Brace for potentially devastating typhoon approaching PH – NDRRMC Read Next Trump talks impeachment while meeting NCAA athletes PLAY LIST 01:07Trump talks impeachment while meeting NCAA athletes00:50Trending Articles00:59Sports venues to be ready in time for SEA Games01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games Fire hits houses in Mandaluyong City