South Africa: “Smelly” Midnight Lifeline – Karpowership receives another extension for the emergency power deal
Gwede Mantashe’s energy department has thrown another lifeline to the sinking karpowership deal and granted the Turkish floating power company another (four-month) extension to obtain its financial and regulatory approvals.
Given Mantashe’s previous statement that he would not tolerate any delays in the government’s emergency power tendering process, his department appeared to push gullibility to the limit when officials insisted that the latest regulatory extension, reported by the Karpowership Group, be allowed was granted, did not include special treatment is controversial R228 billion, 20-year gas-to-electricity bid in three local ports.
“I just want to correct you: Karpowership was not extended [only]. It is for all bidders, “said Mantashes ministerial liaison officer Nathi Shabangu on Friday when asked to confirm that the Turkish-controlled shipping company was granted another extension in order to achieve financial close.
The first deadline for the financial shutdown was July 31st. This was extended by the Department of Mineral Resources and Energy (DMRE) to September 31, bidders and the strict rejection of the environmental impact assessment (EIA) of Karpowership.
The company too …