South Africa: Hollande highlights power investment


Issue 264 - 26 Oct 2013 | 2 minute read

French President François Hollande made a first visit to South Africa in mid-October, announcing a €4bn ($5.5bn) rail contract to be undertaken by Alstom with the Passenger Rail Agency of South Africa and highlighting French investment in South Africa’s power sector.The president referred to “the agreement signed between GDF Suez and South Africa for thermal power stations to the tune of €1.6bn”, creating hopes of a new injection of capital to give Eskom some breathing space. But a GDF Suez spokesman said no new deals had been signed with the South African government. While “we do work quite closely with the French government, Hollande was adding up different projects (which are already under development),” he said.

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