Karpowership parent company accused of ‘state capture on steroids’
Karpowership empowerment partner claims underhanded dealings after it loses its stake
The spectre of private access to public assets for the benefit of private commercial interests loomed large this week in the court clash between partners in the controversial power ships emergency power procurement tender.
Counsel for the warring parties — Turkish power ship parent company Karadeniz Holdings Ltd (KHL) and its local empowerment partner, Powergroup SA — traded barbs in the high court in Johannesburg on Friday over accusations by Powergroup that its removal was secured in an underhanded manner to benefit a new party in a scheme reminiscent of state capture...
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