| Thu 24 Nov 2011, 16:50 | | SKJ - Sekunjalo Investments Limited - Sekunjalo secures R1bn government |
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SKJ
SKJ
SKJ - Sekunjalo Investments Limited - Sekunjalo secures R1bn government
deal to accelerate broad-based participation in the maritime sector
Sekunjalo Investments Limited
(Incorporated in the Republic of South Africa)
(Registration number 1996/006093/06)
Share code: SKJ
ISIN: ZAE000017893
("Sekunjalo" or "the Company" or "the Group")
SEKUNJALO SECURES R1BN GOVERNMENT DEAL TO ACCELERATE BROAD-BASED
PARTICIPATION IN THE MARITIME SECTOR
A consortium led by Sekunjalo has been awarded a five-year contract worth
an estimated R1 billion by the Department of Agriculture, Forestry and
Fisheries. The deal is expected to accelerate broad-based participation in
Cape Town`s maritime industry, which to date is highly concentrated.
Under the deal, the consortium, which includes Sekunjalo Industrial
Holdings (a subsidiary of Sekunjalo) and ship-building company KND, will
conduct technical maintenance, infrastructure and personnel support to
eight state-owned research and patrol vessels including the Algoa, the
Ellen Khuzwayo and the Sarah Baartman for a five-year period.
Sekunjalo CEO Khalid Abdulla says the contract is a significant business
deal for Sekunjalo and will create value for the Group`s current business
operations.
In addition, Sekunjalo`s Chairman Dr Iqbal Surve says the deal will
accelerate much-needed enterprise development and skills transfer in
technical areas of the maritime industry, where barriers to entry have
previously been high. Our goal is to provide as many job opportunities
through this deal as possible."
Minister of Agriculture, Forestry and Fisheries, Tina Joemat-Pettersson
says the contract is the first of its kind awarded to a Black-owned
company, which traditionally, shied from technical areas of South Africa`s
maritime sector. "I am confident that Sekunjalo Industrial Holdings has the
requisite skills and capabilities to fulfil this contract based on its
fleet management experience and its experience in managing maintenance
projects on international vessels."
Abdulla, says Sekunjalo Industrial Holdings is one of the only Black-owned
companies on the continent with the requisite technical and engineering
expertise to manage a contract of this magnitude." Today, Sekunjalo not
only manages technical maintenance of its own fleet, but conducts
maintenance and provides technical services to vessels from around the
world.
Abdulla says acquiring technical expertise and getting the right people in
the maritime maintenance is no mean feat. "We will not only provide
technical support and expertise, but also financing to smaller businesses.
We have a moral obligation to promote enterprise development in this
industry."
According to Abdulla, Sekunjalo will outsource a material portion of the
deal to smaller businesses. He says this is perfectly aligned with
Sekunjalo`s ethos to promote broad-based participation in the sectors of
the economy that has been inaccessible to previously disadvantaged
individuals. "This is central to Sekunjalo`s business philosophy which
promotes job creation and the transfer of skills.
Surve says "This is central to Sekunjalo`s business philosophy which
favours labour-intensive industries that not only promotes employment, but
also provides sustainable job opportunities."
Minister Joemat-Pettersson says she applauds Sekunjalo`s attempt to open up
the sector to SMMEs. "Not only will many Black SMME`s benefit from this
deal, it will also accelerate sustainable broad-based participation in the
maritime industry, which can create many job opportunities."
Surve urges all companies involved in the maritime sector, individuals with
technical expertise and engineers who have not necessarily been involved in
the maritime industry, to contact Sekunjalo.
While Sekunjalo is in the process of developing a database of suppliers,
the company is finalising a service level agreement with the Department of
Agriculture, Forestry and Fisheries.
Cape Town
24 November 2011
Sponsor
PSG Capital
Date: 24/11/2011 16:50:01 Produced by the JSE SENS Department.
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