Ugly spat over BEE beneficiaries in Karpowership deal

Hanno Labuschagne

Hanno Labuschagne

Journalist
Staff member
Joined
Sep 2, 2019
Messages
5,737
Reaction score
4,035
Ugly spat over BEE beneficiaries in Karpowership deal

A group of local BEE partners for the government's controversial Karpowership deal are accusing Turkish company Karadeniz of trying to get them kicked out of the transaction in favour of other partners, Sunday Times reports.

The empowerment partners from Powergroup SA hold a 49% stake in the deal, while Karadeniz holds the remaining 51%.
 
The more you bring to the table, the less easy it is to find a replacement partner.
 
Wot does Cyril say after "shocked"; he's used up most of the similar adjectives. Maybe it is him or his BIL?
 
Erick_ said:
They should hold none at all. It is not their property, it is not their money it is not their workers.
Click to expand...

Depends. If our local elites can have some of this gravy rather than Turkish ones, keep it local rather.
 
Someone here posted the tender details, maybe Spizz
The article does not explain the BEE shareholder agreement properly
 
Pak Fa Fui said:
Someone here posted the tender details, maybe Spizz
The article does not explain the BEE shareholder agreement properly
Click to expand...

Tbh I can’t remember the ins and outs. My company have a local office and BEE status and I wasn’t involved in the legal side of things.

Thinking back, I’m also mixing up details in my head with the Eskom tenders that were going about at the time. But I seem to recall really relaxed BEE requirements.
 
Erick_ said:
We have done a few contracts with Eskom. We don't anymore not because of BEE but because Eskom staff are a bunch of grade A assholes. Essentially they always demand we do more than the scope of our contract.
Click to expand...

Yeah, I was working on Eskom tenders at the same time as this emergency programme which was run by the government. The requirements were quite different because it was an emergency program, and I think I recall the BEE requirements were further relaxed before the tender submission dates.
 
wondering if it will ever happen??? their more worried and focused on the money, instead helping the country out of loadshedding at all!!
 
oros said:
wondering if it will ever happen??? their more worried and focused on the money, instead helping the country out of loadshedding at all!!
Click to expand...

Indeed. The tenders went in March 21 if I recall correctly, and financial closure should have been 3 or 4 months later so construction should have at least started before end of 2021.

So an emergency program with not much emergency about it.

Meh, sort the backhanders out first.
 
They are all a bunch of thieves at best.
That's why they want a 20 year deal.

So they can drown in the GRAVY.

So what's the real price and what's the BEE price for electricity.

So a total of 800MW.
Not even one stage of loadshedding and they are at each others throats already.
 
Last edited:
Fuzzbox said:
They are all a bunch of thieves at best.
That's why they want a 20 year deal.

So they can drown in the GRAVY.

So what's the real price and what's the BEE price for electricity.

So a total of 800MW.
Not even one stage of loadshedding and they are at each others throats already.
Click to expand...

Not to defend them but 20 years is normal for an IPP. They have huge start up costs and they need to make it back so a short term deal is not really possible. That’s why the tenders were 20 years, not specifically talking about the ships. Obviously they can do it short term as it’s a moveable asset.
 
Spizz said:
Tbh I can’t remember the ins and outs. My company have a local office and BEE status and I wasn’t involved in the legal side of things.

Thinking back, I’m also mixing up details in my head with the Eskom tenders that were going about at the time. But I seem to recall really relaxed BEE requirements.
Click to expand...
It was relaxed and is a small component of the contract, around 3% of the total deal but with strict conditions and upto $2 million upfront from the BEE partners and strict procurement details deadlines and HR practices
80% of staff on the ship will be local workers
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter