News / Spot rates tumble with excess capacity and threat of US-China trade war

first_img By Mike Wackett 23/03/2018 Container spot rates continued to slide this week as capacity issues threatened the stability of the Asia-Europe trade.And on the transpacific, a trade war appears to be on the verge of breaking out between China and the US.This week’s Shanghai Containerized Freight Index (SCFI) saw European components tumble by 5% for North Europe to $704 per teu, and by 2.3% for Mediterranean ports to $650 per teu.Spot rates on the route have now fallen for four consecutive weeks, following Chinese New Year, and several carriers, including CMA CGM and Hapag-Lloyd, have already discounted their FAK rates as they struggle to fill their ships.Analyst SeaIntelligence calculates that ocean carriers have 8.8% more slots to sell for North Europe this year, compared with 2017, and 6.5% more capacity on the Mediterranean.It said that in order to achieve a “more modest” 5% growth, which is more in line with the consensus estimated demand increases, carriers would need to pull some 9,300 teu per week of capacity to North Europe.On the basis that the average size of vessel deployed on the trade is 15,100 teu, SeaIntel suggested that it would be necessary to blank 7.4 sailings over a 12-week period to return to a state of equilibrium.For the smaller Mediterranean trade, where the average vessel size is 11,200 teu, the cull would need to be less severe, said SeaIntel, with the supply-demand rebalancing requiring a reduction of around 2,000 teu per week, equating to voiding 2.2 voyages over a 12-week term.And on the transpacific, Asia-US spot rates recorded by the SCFI crashed below a crucial psychological level this week, which does not augur well for carriers negotiating annual contract rates with BCOs.Rates from Asia to the US west coast fell below $1,000, slumping by 7% to $945 per 40ft, and for US east coast ports there was a 3.8% decline to $1,933 per 40ft.In comparison with 12 months ago, spot rates are significantly weaker: the SCFI reading for 24 March 2017 was $1,288 and $2,625 per 40ft for the US west and east coast ports respectively.However, according to freight rate benchmarking platform Xeneta, early indications from its crowd-sourced data suggests that some transpacific shippers have paid a premium on 2017 rates.But it added that shippers should be questioning their strategy in the light of the spot rate erosion.“Should they be finalising long-term contracts at a similar level to 2017, or perhaps slightly lower?” it asked.Meanwhile, BCOs may find that carriers become keen to nail down volume contracts in the light of the looming trade war between the US and China. In an endeavour to slash America’s $375bn annual trade deficit with China, President Donald Trump yesterday signed-off sweeping new tariff hikes on $60bn of hi-tech and high-end imports, targeting 1,300 separate Chinese-manufactured products.It is way too early to calculate the full impact on trade of the new import taxes, but it is likely that growth forecasts for the transpacific will need to be revised downwards.At the recent TPM conference in Long Beach, IHS Markit chief economist Nariman Behravesh identified US policy as one of the biggest risks to global trade expansion in 2018, with US president Donald Trump describing trade wars “a good thing and easy to win”.Dr Behravesh said: “There is a view in Washington that trade is a zero-sum game, but the fact is that trade wars are not a good thing and they are impossible to win.” © Katatonia82 | Dreamstime.com – Industrial view of Sea port of Limassol, Cypruslast_img read more

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Dr. Tufton commits $3,000,000 per annum to staging of agricultural shows

first_imgFacebookTwitterWhatsAppEmail MONTEGO BAY — The Ministry of Agriculture and Fisheries will be playing a more direct role in the staging of agricultural shows across the island, with a minimum $500,000 in sponsorship committed for each event. With approximately six major agricultural shows held across the island during the course of any one year, including the Denbigh Agricultural Show in Clarendon, the amount comes to about $3,000,000 per annum. Portfolio Minister, Hon. Dr. Christopher Tufton, who made the announcement at the opening of the Montpelier Agricultural and Industrial Show on April 25 at the Montpelier showground, St. James, said that the move comes after meetings with the Jamaica Agricultural Society (JAS), Rural Agricultural Development Authority (RADA), and other stakeholders. He said that the financial input is geared at assisting the main organiser of these events, the JAS, to achieve the desired effect of putting the farmers and their efforts on centre stage. “It’s an agreement that we will sign off on in another week or two in a press conference, which will see both the JAS and the Ministry collaborating with a number of stakeholders across Jamaica linked to the agricultural sector, in rebranding and restructuring our agricultural shows, or certainly the main ones that we have (including) the Denbigh Agricultural Show, which is the premier event each year,” he informed. He stated that the $500,000 is just a minimum, noting that the Ministry will contribute more if possible, as it has a stake in showcasing the output of the nation’s farmers for the development of the sector. He indicated that the $5 million per annum committed to the Denbigh Show, will remain in place. The Minister, while delivering the main address at the Hague Agricultural Show in Trelawny on March 9, lamented the poor organisation of the event, and the large number of non-agricultural imported items on display. He stated then that he would not attend any more agricultural shows until an agreement had been reached with organisers, in particular the JAS, to ensure that the shows are focused on the wellbeing and efforts of the farmers of the country. The annual Easter Monday Montpelier show is staged by the St. James Association of Branch Societies of the JAS in collaboration with RADA. Advertisements RelatedDr. Tufton commits $3,000,000 per annum to staging of agricultural shows RelatedDr. Tufton commits $3,000,000 per annum to staging of agricultural shows RelatedDr. Tufton commits $3,000,000 per annum to staging of agricultural shows By BRYAN MILLER, JIS REGIONAL OFFICE Dr. Tufton commits $3,000,000 per annum to staging of agricultural shows AgricultureApril 27, 2011last_img read more

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Orange pledges industry-focused 5G rollout

first_img Orange makes secure cloud pact for French market AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 18 APR 2019 Tags LIVE FROM ORANGE BUSINESS SUMMIT, PARIS: Orange backed 5G to drag business into real time, with the operator planning to target the first wave of its French rollout on areas with heavy proliferation of industry.Speaking to an audience of its enterprise partners, CEO Stephane Richard urged big businesses to work with the operator to ensure 5G is developed to deliver the specific use cases needed by France’s key companies.“We will prioritise industrial sites with the launch of 5G,” he said. “To harness this technology shift we need to look ahead without delay and work out what your [enterprise] future opportunities are as we need to be able to enable these.”“This is something we have to do together, there’s no point waiting for the [spectrum auction] bidding or deployment to begin. France should make sure it’s not lagging behind, quite the opposite we want to be ahead of competitors.”He added 5G would be fundamentally different from previous generations of mobile technologies where networks were deployed and then use cases formed. In contrast, the new generation will be built specifically to meet the needs of those planning to take advantage of it.Richard (pictured, right) backed 5G technology to have a huge impact on a wide number of industries, noting the ability to process data faster; slice the network into specific segments; and improve reliability as factors.“On production lines and connected vehicles the smallest outage can have a huge impact,” he added, noting 5G would also provide positive environmental effects on resource management.Rollout planOrange plans to launch limited 5G services in a “non-commercial way” by the end of this year.“Rolling out 5G in full will take time,” Richard said. “The spectrum auction will take place, then initial B2B uses, then it will become into general use for the general public.” Subscribe to our daily newsletter Back Author Chris Donkin Home Orange pledges industry-focused 5G rollout Las grandes operadoras europeas ponen condiciones a las RAN abiertascenter_img Related FranceOrangeStephane Richard Previous ArticleFCC chief urges block on China Mobile licence bidNext ArticleBillions bid in second US 5G auction Español Chris joined the Mobile World Live team in November 2016 having previously worked at a number of UK media outlets including Trinity Mirror, The Press Association and UK telecoms publication Mobile News. After spending 10 years in journalism, he moved… Read more Orange Ventures injects €30M into new fundlast_img read more

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The ‘Royal’ Equestrian Canada Convention Line Up

first_img We’ll send you our regular newsletter and include you in our monthly giveaways. PLUS, you’ll receive our exclusive Rider Fitness digital edition with 15 exercises for more effective riding. Horse Sport Enews Subscribe to the Horse Sport newsletter and get an exclusive bonus digital edition! Where can you get the rare opportunity to learn from the likes of Christilot Boylen, Jessica Phoenix, Selena O’Hanlon, Erynn Ballard and Tina Irwin all in one weekend? Why, the 2019 Equestrian Canada Convention, of course!Set for Nov. 1-3, 2019 at the iconic Royal Agricultural Winter Fair (RAWF), the EC Convention will not only provide an up-close and personal experience with elite equestrian athletes, but will also give you the chance to get engaged and learn about vital new programs and initiatives for Canadian equestrians, including coach licensing, competition structure, Safe Sport, and Rookie Riders. Click here to view the full agenda!Don’t miss out – register by Oct. 21, 2019 to include Royal Horse Show tickets in your package!Click here to register today!Whether you want to fully immerse yourself in an equestrian’s dream weekend and attend all three days of exceptional educational opportunities, social events and Royal Horse Show evenings, choose the days you attend “à la carte”, or buy tickets solely for the #RideToTokyo Red & White Fundraiser social event, there are packages to fit all preferences!For more information, including the full agenda, session descriptions, and speaker bios, visit www.equestrian.ca/events-results/convention. Tags: Equestrian Canada, Equestrian Canada Convention, More from Equestrian Canada:Equestrian Canada Approves New Corporate Reserve FundThe fund will be seeded in May 2021 with a one-time allocation from each discipline and will grow annually via annual investment and savings.2020 Jumping Youth Bursary Recipients AnnouncedTen hard-working young athletes were chosen by the EC Jumping Committee to receive $1,000 Jumping Youth Bursary funds.Brittany Fraser-Beaulieu Wins Third Brosda Olympic BursaryThe dressage rider’s selection for a third year underlines her ability to make Canada proud at the Olympics aboard her partner, All In.Coach Status Program Update from Equestrian CanadaThe Coach Status Program has received more than 450 applications and 25 coaches have been approved to date. SIGN UP Email*last_img read more

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Barbados rejects ‘money laundering country’ label

first_imgThe Barbados government has described as “misleading” the decision by the United States to list the island as a major money laundering base.Attorney General Adriel Brathwaite said that “Barbados is duty bound to state its position on this finding, which it considers to be misleading”.The statement issued by the Office of the Attorney General noted that Bridgetown had become aware of the 2016 report by the US State Department naming Barbados among a number of countries which Washington regards as major money laundering countries.“In respect of Barbados, the report cited a number of generic methods of money laundering that may be found in any country.  While the areas of criminal activity cited are present in the country, Barbados’ best intelligence does not support the view that they are at proportions which would have a significant impact on the local economy, or cause the faintest ripple in the international financial sector.”The statement said that Barbados has deployed significant resources to combat criminal activity of every description. In particular, major resources have been directed to combating financial crime, including money laundering and fraud.The statement from the Office of the Attorney General noted that the illegal drugs trade is the crime which is of greatest concern in the country.“This trade gives birth to other criminal activity. For instance, it is believed that the importation and use of unlicensed firearms is closely connected to the drugs trade. The drugs trade is also the most profitable acquisitive crime on the island; hence, it has potential implications for the financial sector. These threats are understood and are being addressed with some degree of success.”“This emphasis was thought necessary because the competent authorities have recognized that the trade in illegal drugs and its offshoots have the greatest potential to distort the local economy.  However, there is a big gap between potential and actuality.  Policies and programmes are in place to ensure that this potential never becomes reality.”last_img read more

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Vic’s swinging in the rain

first_img2nd Bob Newell (8) 38ptsB Flight1st Colin Davis (15) 35pts2nd Lou Zig-Zag (18) 34ptsNear Pins:  No 4 Jonny Lindberg; No 9 Bob Dibben; No 12 Bob Dibben; No 17 Yui Bietry. The storm clouds were gathering as the society left Lewiinski’s for our usual Sunday bash at Green Valley, and they did not disappoint as about half way through the game the heavens opened up.  This caused a few players to give it up for the day.After about an hour play resumed but only for twenty minutes, as the rain returned with a vengeance.  This also lasted about an hour, by this time the field was depleted to half the original contestants but as they say the show must go on.It was the senior flight that weathered the storm best as Victor ‘the inflictor’ lived up to his name as he put together an unbelievable (considering the conditions and a no score on the 5th hole) 42 points.  Vic was three clear of Bob ‘Marley’ Newell who seems to have got his timing back.The Donkey took top podium spot in the junior flight as his 35 points (which included no scores on the 3rd 14th 16th and 17th) was just one stroke clear (much to the delight of gang) of Aussie Lou Zig-Zag.Bob Newell and Jonny Lindberg split a healthy 2’s pot.Tuesday, August 30, Greenwood C & B – Stableford1st John Feehan 37pts2nd Colin Davis (15) 37pts3rd Bob Dibben (8) 34ptsThe young man from Co. Tipperary, Ireland, John Feehan, could buy his merry band of leprechauns a getaway drink with his 37 points as he took the man of the match honors on a count back over the Donkey, whose own pay window exploits have been duly noted of late.A bunch of three players were tied three strokes back for the bronze podium spot.  That man from Wales, Bob Dibben, came out on top leaving Peter ‘Don O’Corleone’ Henshaw and Bill ‘the monkey tamer’ Brochart, at sea level.Mike the welsh Wizard carded the day’s only ‘2’.Wednesday,August 31,Bangpra – StablefordA Flight1st Paul Whitnall (11) 32pts2nd Michael Mier (7) 31ptsB Flight1st Jimmy Day (15) 31pts2nd Don Lehmer (16) 31ptsBangpra, which many consider to be the toughest test of par 72 on the Eastern sea board, bared the teeth of its tight fairways and lightning glass like greens to ensure no one bettered their handicap.  Colin the Donkey, who is kind enough to lend the scribe on-course assistance, reported that after two holes his group of four well seasoned golfers had five points between them.Mastering the premier division was Paul Whitnall who won with a best of the day 32 points.  Paul’s score was one stroke ahead of Michael Mier.Jimmy Day and Don Lehmer, often referred to as the ladies men, and Bill Brochart are not cutting their Tuesday night time activity short by any stretch of the imagination, though it seems to show in their performance on the fairways, as all three could only muster 31 points.  Irelands’ Jimmy Day emerged from the heap to take top spot in the junior division, an out of breath Don faltered on the back side to take the silver.  Bill was left out in the cold and on his own-some.Brian Holden and Paul Young shared the ‘2’s pot.Friday, September 2, Treasure Hills – Stableford1st Jimmy Day (18) 37pts2nd Peter Henshaw (14) 35pts3rd Bob Dibben (8) 34ptsMy goodness, he’s done it again!  Not happy with Wednesday’s B Flight victory, Jimmy ‘the ladies man’ won the premier flight again today.  To cap it all Jimmy was the only player to better his handicap with a solid 37 points – a super score on this course.Peter ‘Don O’Corleone’ Henshaw, a shot adrift, made it an Irish double.  Welshman Bob Dibben secured the third podium place a further shot back with the aid of a count back over the unlucky Daniel Oshiro.The Donkey made good use of his wife’s former employer and course knowledge whose sister and mother still caddie there, to notch the only 2 of the day and so make it a happy reunion.Note:  Lewiinski’s is situated on Pattaya Land Soi 1, Beach Road Soi 13/3 near to Walking Street.  Anyone wishing to play with us, just pop in and add your name to the list or call Colin on 089 826 0764.  Transport is provided. PSC golf from Lewinski’s Golf SocietySunday, August 28, Green Valley – StablefordA Flight1st Vic Hester (14) 42ptslast_img read more

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Gasser shines at Green Valley

first_imgLewiinski’s Golf SocietySunday, Dec. 18, Green Valley – StablefordA Flight1st JP Gasser (14) 39pts 2nd Paul Hack (16) 37pts3rd Ian Pickles (16) 35ptsB Flight1st Bill Eyles (22) 38pts2nd Don Lehmer (24) 35pts3rd Aiden Murray (26) 34ptsNear Pins: Dave Boran, Jim BellLong Putts: J P Gasser, Bruce WaltersJP Gasser (right) with his better half.Well you can tell the weather has improved because the courses have been in excellent condition and the winning scores have all been better than basic par, and in most cases by a long way.  Today was no different as a great crowd left to play our usual Sunday bash at Green Valley.Top man in A Flight and man of the match was JP Gasser with a fine 39 points and a bonus long putt.  JP was followed up the podium steps by Paul ‘the thunder from down under’ Hack with a steady 37 points.  The third podium step went to a count back as both Ian Pickles and Mickey ‘nine holes’ Beresford were tied on 35 points.  After nine holes one would have though Mickey was going to win the game but two no-scoring holes in the last three put paid to that idea so it was Ian who got to stand on the podium, leaving Mickey at sea level and potless.Bill Eyles took the honours in B Flight with a fine 38 points while Don ‘the ladies’ man’ Lehmer followed Bill up the podium steps with 35, one stroke clear of third placed Aiden Murray.Monday, Dec. 19, Pattavia – Stableford1st Derek Briton (34) 38pts2nd Jeff Downes (20) 37pts3rd Marcus Earp (29) 37pts4th Torben Lindgarrd (30) 36pts5th Pierre Zbinden (24) 36ptsLong Putt: Steve BakerToday we played Pattavia golf course, a beautiful layout in great condition with very pleasant fairways and greens.  Lewiinski’s and Colin’s Golf Bar players enjoyed a very pleasant day with a slight breeze and sunny skies.We had just one flight today but with five places up for grabs and one longest putt.The scores were very good as Derek Briton took the match honours with a fine 38 points.  Two players were just one stroke behind, Derek Jeff Downes and Marcos Earp; Jeff out-gunning Marcus in the count back to lift the silver with a inner nine score of 20-19.The calculator was out again as three players all returned even par rounds for the two remaining podium steps; Torben Lindgarrd, Pierre Zbinden and the Donkey were all locked on 36 points and the count back dictated that they finished in that order.Wednesday, Dec. 21, Green Valley – StablefordA Flight1st Paul West (17) 38pts2nd Paul Hack (16) 35pts3rd Nick Shaw (19) 33ptsB Flight1st Stuart Hall (31) 39pts2nd Sean Larner (21) 36pts3rd Robert Baird (31) 35ptsNear Pins: Sean Larner, Mike HollingsworthLong Putts: Pierre ZbindenIt was back to our home course Green Valley once again, the course was in fine condition as usual and the weather was hot with a little breeze.  But for some reason most found the going tough as only two players managed to better their handicap.B Flight’s Stuart Hall took the man of the match honours with a rock solid 39 points and he was three clear of Sean Larner in second and four up on Robert Baird in third.The top spot in A Flight went to Paul West with a fine 38 points and he was followed up the podium steps by Paul Hack.  Nick ‘Elvis’ Shaw hit all the right notes as he closed the flight on 33 points but needed the aid of a count back over a player whose name is not to hand.Back at Colin’s Bar and after the presentation the lucky draw was made but was not claimed.  Remember you have to be in the bar to win the prize.Friday, Dec. 23, Khao Kheow – StablefordA Flight1st Paul West (16) 37pts2nd Walter O’Keefe (13) 37pts3rd John Harrison (11) 34pts4th Matt Polkinhorn (14) 34ptsB Flight1st Tina Orth (26) 42pts2nd Colin Davis (22) 36pts3rd Torben Lindgarrd (28) 35pts4th Gabriel Enright (19) 35ptsNear Pins: B8 Steve Baker, C3 Gabriel EnrightIt was off to the favourite of many, Khao Kheow, and it was a good day for those who normally find the course to be too demanding.  We played the B & C nines in near perfect conditions and had a fair sized field so two flights were required with four places in each.There was no man of the match today but that was not for the lack of trying.  The top honor went to the belle of the bar, Tina Orth, with a fantastic 42 points, normally unheard of at this track.  Colin ‘the Donkey’ Davis followed Tina up the podium steps with a solid even par round and a count back was required to fill the minor flight spots between Torben Lindgarrd and Gabriel Enright.  Torben’s back-nine was more favorably spread out but Gabriel was not that much bothered because he had a near pin prize.The laurels in A Flight went to Paul West as he made it two flight wins on the trot, but first he had to win a count back over the unlucky Walter O’Keefe.  A further count back was required to separate John Harrison and Matt Polkinhorn and after the divots had settled it was John who filled the third podium spot.last_img read more

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Tottenham target has produced stunning form since injury – summer signing?

first_imgJack Grealish’s influence at Aston Villa continues to grow by the game.Grealish, 23, is one of the most talented players outside of the top-flight and is once again bidding for promotion to the Premier League with his boyhood club this season. Grealish, who saw a move to Tottenham fall through last summer before signing a new five-year deal at Villa Park, returned from a three-month lay-off with a shin injury at the beginning of March.And Villa’s fortunes have drastically changed since then – winning six successive league games. huge blow Sky Sports presenter apologises for remarks made during Neville’s racism discussion MOST READ IN FOOTBALL The average first-team salaries at every Premier League club in 2019 That has seen them move from 14th in the Championship table to 5th, giving the Midlands club increased hope they can seal a return back to the Premier League.During this winning run, where Grealish has skippered the side, Dean Smith’s men have scored 16 goals and conceded just three in the process.Grealish and co travel to Rotherham on Wednesday night as they look to make it seven wins in a row and tighten their grasp on a top-six spot. Berahino hits back at b******t Johnson criticism – ‘I was in a dark place at Stoke’ Oxlade-Chamberlain suffers another setback as Klopp confirms serious injury GETTY whoops Did Mahrez just accidentally reveal Fernandinho is leaving Man City this summer? Boxing Day fixtures: All nine Premier League games live on talkSPORT center_img REPLY Green reveals how he confronted Sarri after Chelsea’s 6-0 defeat at Man City revealed 1 SORRY latest Liverpool news live: Klopp reveals when Minamino will play and issues injury update Jack Grealish has been in outstanding form for Aston Villa gameday cracker tense #avfc since Jack Grealish has came back from injury and was made captain: 🏟 6 games✅ 6 wins⚽️ 16 goals scored 🧤 3 goals conceded From 14th in the table ➡️ 5th 👏 pic.twitter.com/6XpneXGwdM— thevillazone (@thevillazone) April 9, 2019Given Tottenham’s current lack of depth in central midfield, you wouldn’t put it past them attempting to snap him up if they fail in the promotion bid, especially with this form.last_img read more

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AfDB approves loan for South African solar project

first_img1 July 2014The African Development Bank has approved a US$142-million loan to help fund the construction of a $908-million, 100-megawatt (MW) concentrating solar power plant in the Northern Cape – the bank’s first loan for a renewable energy project by an independent power producer in South Africa.A consortium led by Spanish company Abengoa was chosen to build the plant during the second round of the South African government’s renewable energy programme for independent power producers, which aims to add 17 800 MW from renewable sources to South Africa’s energy mix by 2030.Abengoa is currently building two other solar plants in the Northern Cape: a 50 MW solar tower plant near the town of Upington, and a 100 MW parabolic trough solar plant, dubbed KaXu Solar One, near the town of Pofadder.The new parabolic trough solar plant, Xina Solar One, will be located alongside KaXu Solar One, and according to Abengoa the two 100 MW plants will “jointly shape the largest solar complex in Africa”.Abengoa said in a recent statement that Xina Solar One would produce sufficient clean energy to power approximately 90 000 households while reducing South Africa’s carbon dioxide emissions by up to 315 000 tons annually.“Additionally, the construction, operation and maintenance of the plant will stimulate regional socio-economic development by creating numerous direct and indirect jobs, as well as a supply chain that will foster economic growth in the country,” the company said.Parabolic trough technology employs parabolic-shaped mirrors that are set on a structure so they can track the movement of the sun and concentrate solar radiation onto a receiving tube. Inside the tube, a heat-absorbing fluid flows and reaches high temperatures. This fluid transfers the thermal energy to a heat exchanger, and then is used to heat water into steam, which ultimately drives a turbine to generate electricity.Xina Solar one will incorporate a five-hour thermal energy storage system using a set of thermal storage tanks filled with molten salts. This will give the plant the ability to generate electricity after sunset or during cloudy periods, in addition to the ability to adapt energy production to the peaks of demand.Abengoa CEO Manuel Sanchez Ortega said the project illustrated “the maturity of solar-thermal technology, which can be efficiently stored and used when it is needed”.Announcing its loan approval last month, the African Development Bank (AfDB) said it would “play an important role by providing much needed long-term finance, enforcing environmental and social standards and working to enhance the development impact of the Project”.Construction is due to start this year, with the full cost estimated at $908-million (about R9.5-billion), to be financed by the AfDB along with other development finance institutions and three of South Africa’s commercial banks.SAinfo reporterlast_img read more

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