Two JSE-listed investment companies — PSG Group and Universal Partners (UP) — look set to cash in on Cape Town’s water crisis. Earlier this month GrahamTek, a desalination and water purification company controlled by PSG’s 53%-held subsidiary Energy Partners, announced it had clinched a R5bn contract to build a desalination plant in Saudi Arabia for the Saline Water Conversion Corp. While this development is great news for PSG, it seems GrahamTek could turn on the profit taps in Cape Town too. The company has bid for contracts to supply the city with desalination plants as part of ongoing efforts to secure alternative water sources to ensure taps don’t run dry before the onset of winter rain. The adjudication process is currently under way. GrahamTek CEO Julius Steyn believes the company’s desalination technology — which revolves around reverse osmosis — is ideally suited for the SA environment. GrahamTek already has a plant ready and available for local use, and Steyn says the comp...
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