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Eskom CEO: ABB Corruption Delays Kusile Plant; Increases Load Shedding Risks

SOUTH AFRICA

Eskom CEO De Ruyter:

  • ZAR 1.5bn retrieved from ABB provides little impact on R484bn debt load
  • Need to move contracts to other providers will slow completion of Kusile power plant by 4 years
  • SUBSTANTIALLY INCREASES LOAD-SHEDDING RISKS (rolling blackouts)
  • Kusile power plant is crucial in adding 2,500MW in additional power to the grid
  • Delay will cause further profitability risks for Eskom and create a larger burden on the state
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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