WILSON Bayly Holmes-Ovcon (WBHO) says the group’s building divisions — both in Africa and Australia — have continued to offset lower activity levels in mining and other civil engineering sectors.This comes as CEO Louwtjie Nel also sees an uptick in government spending on large-scale infrastructure in SA, following a hiatus since the country’s hosting of the 2010 Soccer World Cup."I think finally that things are starting to happen — at last," he said on Tuesday. "All of a sudden six to 10 big projects are coming to market."These included a new dam, roads, bridges and port work in Durban, bolstering an already "healthy order book" for building work and "many projects under negotiation" — mostly in SA."We haven’t seen big projects come to market in SA for five years," Nel said. This was significant as the group was "geared" for such work. Some of these projects were part of the National Development Plan, and were worth billions of rand.The group’s cash balance shot up R1.8bn to R5.8bn ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.