Daily Archives: October 11, 2017

CMIG Drawin Launches Its First Prefabricated Construction Project in South Africa

Prefabricated project improves local conditions with world-leading construction technology

EKURHULENI, South Africa, Oct. 11, 2017 /PRNewswire/ – China Minsheng Drawin Technology Group (CMIG Drawin), a unit of investment conglomerate China Minsheng Investment Group, has launched the John Dude New City project in South Africa’s Gauteng province, marking its initial entry into Africa’s affordable housing market, and the introduction of signature construction technology to the continent to help improving sustainable development of city construction in Africa.

Gauteng local residents tour around at the model houses at commencement ceremony.

CMIG Drawin will build 18,000 affordable homes, public leasing houses and commercial properties, and other public facilities in the John Dude New City, one of the 31 Mega City Projects launched in Gauteng that will improve infrastructure and create jobs for local residents.

The entire project will include properties built using CMIG Drawin’s ‘prefabricated construction’ technology in an area of 1,228 acres with total planned investment of US$ 2.45 billion. Except for a small number of technical management experts, 95% of the staff will be hired locally to provide more employment opportunities in South Africa.

‘We feel extremely honored to be able to participate in South Africa’s project to build more affordable housing,’ Jun Yin, CEO of CMIG Drawin said. ‘This feeds into our mission to build partnerships with BRICS countries, and is an affirmation of CMIG Drawin’s leading technology, which will be adopted in more projects in South Africa and in other overseas markets.’

Prefabricated construction allows standardized building parts to be made on production lines, before being moved to construction sites for assembly – a process that can be likened to building cars on an assembly line.

Compared with traditional construction methods, prefabricated construction is much more efficient, productive and eco-friendly, making it ideal for addressing South Africa’s housing shortages with the promise of greatly-shortened construction time.

‘The commencement of John Dude New City signified the officially activation of large scale urban projects in Gauteng’, David Makhura, the Governor of Gauteng Province, said. ‘which will bring even-increasing improvement to local residential district and space planning in order to achieve modernized and reindustrialized transition in our province.’

To better serve construction projects in South Africa, CMIG Drawin has signed framework agreements with subsidiaries of French construction group VINCI to jointly develop the prefabricated construction industry in South Africa, with John Dube New City being one of their first partnership projects. VINCI, ranked by Forbes in 2017 as the biggest listed construction firm by market value, will also adopt CMIG Drawin’s prefabricated construction techniques in other countries such as the Netherlands and New Zealand.

China Minsheng Investment Group

China Minsheng Investment Group (CMIG) is a leading international private investment group that utilizes its integrated resources and capital strength to prioritize and target emerging industries, build sustainable and strategic business models, and boost regional economic development. Headquartered in Shanghai, CMIG has outlets in major cities including Beijing, Hong Kong, Singapore and London. CMIG was jointly established by 59 renowned private enterprises with registered capital of 50 billion yuan.

China Minsheng Drawin Technology Group Limited

China Minsheng Drawin Technology Group Limited (CMIG Drawin), a unit of CMIG, is a world-leading construction service provider that is setting an example of high-quality, eco-friendly, and efficient construction. Having applied for more than 1,300 patents, CMIG Drawin has developed five leading technology systems for building industrialization, and is actively cooperating with countries along the ‘Belt and Road’ route, seeking to use its leading construction technology to help those countries upgrade their industries.

Photo – https://mma.prnewswire.com/media/581498/CMIG_Drawin_Construction_Project_South_Africa.jpg

SOUTH AFRICA: RAND FIRMED AGAINST THE DOLLAR AFTER HITTING 6-MONTH LOW

PRETORIA– South Africa’s rand firmed against the dollar early on Tuesday, recovering from a six-month low hit in the previous session as emerging market currencies suffered a broad sell-off.

At 0643 GMT, the rand traded at 13.7450 per dollar, 0.4 percent firmer than its overnight close on Monday.

The dollar has faltered, bringing relief to the rand and other EM currencies, Rand Merchant Bank currency analyst John Cairns said in a note. Event and data risks are non-existent so sentiment will dominate trading.

The rand fell as much as 13.8650 versus the dollar on Monday, its weakest level since April 11, as emerging markets were hurt by rising U.S. Treasury yields and risk-off mood following a visa spat between Turkey and the United States.

South Africa is highly susceptible to global investor sentiment as the country relies on foreign money to cover its large budget and current account deficits.

In fixed income, the yield for the benchmark government bond due in 2026 was down 4 basis points to 8.745 percent.

Stocks were set to open flat at 0700 GMT, with the JSE securities exchange’s Top-40 futures index barely changed.

Source: NAM NEWS NETWORK

Media Invitation: Launch of the Safer Festive Season Operations

The Acting National Commissioner of the South African Police Service, Lieutenant General Lesetja Mothiba, will be launching the Safer Festive Season Operations 2017/2018 in Seshego, Limpopo on Friday, 13 October 2017.

The annual nationwide operations will form part of on-going efforts to prevent and combat crime and to ensure a safe and peaceful holiday season through multi-disciplinary operations.

On the day of the launch, leaders of law enforcement agencies and other role players will come together in solidarity against crime to pledge their continuing cooperation during the festive season and beyond.

Source: South African Police Service

More restrictions for rhino horn trade

South Africa is in the process of finalising a set of regulations that will introduce further restrictions and requirements to regulate the domestic trade in rhino horn.

South Africa would like to assure the European Union Member States that it remains committed to ensuring the effective and strict regulation of the legal, domestic trade in rhino horn, Environmental Affairs Minister Edna Molewa said.

Addressing the Ambassadors of the European Union member states in Pretoria on Tuesday, she said the implementation of the integrated strategic approach to address poaching of rhino and the illegal trade in rhino horn remains a priority for all government departments and entities involved.

International trade in rhino horn for commercial purposes will remain prohibited and South Africa will continue to enforce the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) provisions in this regard, Minister Molewa said.

Environment-related matters were discussed during the Minister’s meeting.

The meeting builds on the good relations that exist between South Africa and the EU with regard to, amongst others, the development of the Circular Economy, wildlife crime and climate change adaptation and mitigation.

The EU and South Africa are strategic partners and engage on a number of issues bilaterally, as well as in multilateral fora, Minister Molewa said.

She said South Africa will continue to work with the EU in the upcoming COP23 to ensure that progress on the Paris Agreement Work Programme is made.

It is our view that we should leave COP23 with some clear elements that can be converted into negotiation text early in 2018. We have also committed to clarifying the modalities for the 2018 Facilitative Dialogue aimed at increasing ambition in the pre-2020 and post-2020 years through the revisions on Nationally Determined Contributions where possible, the Minister said.

Source: South African Government News Agency

More restrictions for rhino horn trade

South Africa is in the process of finalising a set of regulations that will introduce further restrictions and requirements to regulate the domestic trade in rhino horn.

South Africa would like to assure the European Union Member States that it remains committed to ensuring the effective and strict regulation of the legal, domestic trade in rhino horn, Environmental Affairs Minister Edna Molewa said.

Addressing the Ambassadors of the European Union member states in Pretoria on Tuesday, she said the implementation of the integrated strategic approach to address poaching of rhino and the illegal trade in rhino horn remains a priority for all government departments and entities involved.

International trade in rhino horn for commercial purposes will remain prohibited and South Africa will continue to enforce the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) provisions in this regard, Minister Molewa said.

Environment-related matters were discussed during the Minister’s meeting.

The meeting builds on the good relations that exist between South Africa and the EU with regard to, amongst others, the development of the Circular Economy, wildlife crime and climate change adaptation and mitigation.

The EU and South Africa are strategic partners and engage on a number of issues bilaterally, as well as in multilateral fora, Minister Molewa said.

She said South Africa will continue to work with the EU in the upcoming COP23 to ensure that progress on the Paris Agreement Work Programme is made.

It is our view that we should leave COP23 with some clear elements that can be converted into negotiation text early in 2018. We have also committed to clarifying the modalities for the 2018 Facilitative Dialogue aimed at increasing ambition in the pre-2020 and post-2020 years through the revisions on Nationally Determined Contributions where possible, the Minister said.

Source: South African Government News Agency