Issued by: Ministry of Mineral and Energy Affairs
Pretoria Thursday 20 June 1996
Proposals by investors interested in participating in a possible restructuring of MOSSGAS have been received and are being evaluated by CEF and its advisers.
The proposals received were from local and international investors.
Minister Botha said "CEF and its advisers will thoroughly evaluate the proposals on their merits in order to present to Government a view on the extent to which the Government's objectives and criteria for the future of MOSSGAS can be met. Since the proposals cover a range of alternatives, a comparison of the socio-economic impact of the respective proposals requires careful analysis".
The Minister added that until the process had been completed the strictest confidentiality would be maintained to ensure that the process and the interests of the parties involved would not be prejudiced in any way.
"An announcement will be made on completion of the evaluation process," he said.
The Minister said "In the meantime the financial justification of the Satellite and Compression project has been independently verified. Since the proposals received support the projects, final approval for the projects can be expected soon".
Enquiries: Mr Roy Pithey, Chairman of CEF (Office) (011) 883 1000 Mr R Darroll, (Office) (012) 322 8695 (Home) (012) 433 394 (Cell) 082 552 794