Work on the engineering and construction of remote apron stands at the OR Tambo International Airport (ORTIA) should start this year, with the R2.4-billion project scheduled for completion in 2022, says Airports Company South Africa (ACSA) acting CFO Lindani Mukhudwani. The remote apron stands will be built next to the current air traffic control complex.

State-owned Airports Company South Africa (ACSA) has again reported a profit in its latest annual results, for the 2018/19 financial year (FY). However, that profit, of R227-million, was 58.9% down on the profit of R552-million achieved during FY2017/18. Acting CEO (Ms) Bongiwe Mbomvu affirmed, at the company’s results presentation on Tuesday, that “[w]e enter FY2020 with a healthy balance sheet”. ACSA’s revenues, R7.1-billion, were up 5.6% on those of the previous financial year (R6.7-billion). The company divides its revenues into aeronautical and non-aeronautical. Under aeronautical, landing fees were up 5%, passenger service charges rose by 7% and aircraft parking fees jumped 14%. Non-aeronautical revenues also increased.

Diversified resources company Exxaro Resources has concluded an agreement with Khopoli Investments, a subsidiary of Tata Power Company, to acquire Khopoli’s 50% shareholding in Cennergi for R1.55-billion. This will give Exxaro 100% ownership of Cennergi.

Black-owned and woman-led Kalagadi Manganese and State-owned Transnet have cemented a partnership that will allow for the transportation of an initial one-million tonnes a year of beneficiated manganese in the form of sinter. The contract will earn Transnet in excess of R3-billion and volumes may increase to three-million tonnes a year.

The First National Bank/Bureau for Economic Research Building Confidence Index fell to a multiyear low of 22 in the third quarter, from 29 in the previous quarter, a two-decade low.  The current level of the index indicates that close to 80% of respondents are dissatisfied with prevailing business conditions.