« Financial firms brace for blow from BEE debt | Main | Arm dishes out BEE millions »
December 9, 2008
Local BEE subsidiary needed for KBR's Coega refinery
Cape Town - New York-listed energy group KBR will be required, as a condition of winning the R1 billion engineering contract at the planned $11 billion (R111 billion) oil refinery at the industrial development zone at Coega, to set up a local firm with a 25 percent black economic empowerment (BEE) stake.
KBR, based in Houston, Texas, has been involved in drawing up the basic design of the Eastern Cape refinery and will be involved in the front-end engineering of the project.
Read More
Posted by StaffWriter at December 9, 2008 8:11 AM