NEF provides R48m funding boost for KZN energy project
Engineeringnews.co.za – Engineering News
The National Empowerment Fund (NEF) has invested R48-million in the construction of a R150-million heat and power plant in Newcastle, in KwaZulu-Natal, which is set to create some 220 local jobs in the former coal mining town.
The investment will comprise ordinary equity of R12-million and a shareholder loan of R36-million, which will include warehousing 40% of the shareholding for broad-based black economic-empowerment investors. The balance of the funding will come from the Industrial Development Corporation.
Related Posts
