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Bhisho - The Development Bank of Southern Africa (DBSA) has approved R54 million for the construction of salt crystallization plant at the Coega Industrial Development Zone (IDZ).
The construction of a purpose-built pure vacuum-dried (PVD) salt crystallization facility for the salt company Cerebos, will start in February 2007 within the IDZ near Port Elizabeth.
The IDZ is one of the government's high priority projects to bring about significant economic benefits to the Eastern Cape region, create employment, energise industrial development and promote international trade.
DBSA investment officer for this project, Simon Vincent pointed out that the Eastern Cape was one of the bank's designated "hot spots" in dire need of infrastructure development and job creation.
City officials are concerned that a pond built to control runoff water could pose a structural threat to the nearly completed Lakeside 370 Business Park levee.
As a result, City Administrator Bill Charnisky is seeking authority to spend $252,000 to cope with the matter if no other solution is found soon.
The concern is whether sand was exposed during excavation for the pond, which is just outside the levee in the Mississippi River flood plain. If sand is exposed, water from a major flood could seep under the levee and weaken it, Charnisky said.
Trinity Products Inc. built the pond to hold rainwater runoff from its 45-acre plant site in St. Charles, just east of the Lakeside 370 levee.
Trinity's owner, Robert Griggs, said Friday that the pond had been built to proper specifications, adding that the project was under way months before levee construction began last year.
Sept. 27 (Bloomberg) -- New home sales in the U.S. probably fell in August to the second-lowest level in more than three years, adding to inventories and deepening the slowdown in the housing market, economists said before a report today. Purchases of new homes, which account for about 15 percent of the market, dropped 3 percent to an annual pace of 1.04 million, according to the median forecast in a Bloomberg News survey of 64 economists. An industry report this week showed the first drop in prices for existing homes since 1995. The Federal Reserve, which last week held its benchmark rate unchanged for a second month after 17 prior increases, said the weakening housing market is contributing to a wider slowdown. Record numbers of unsold houses have dragged down builder profits and depressed prices, denying consumers cash from mortgage refinancing that fueled spending the past few years.
Sondra Cochran has been named director of services/vice president of Beverly-Hanks & Associates. She will oversee all aspects of business development of new home communities, maintain and broaden existing relationships with the companys builder-developer clients; build new clients; assist with builder-developer marketing plans; identify, train and manage on-site sales personnel; and implement ongoing new home sales training programs. .
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