Eskom should weigh selling its crown jewels, FirstRand CEO says

World News: . []

State-owned Eskom should consider selling two coal-fired plants that rank among the world’s biggest to repair the state-owned utility’s finances, according to the head of South Africa’s biggest bank by market value. The supplier of almost all of South Africa’s power is being battered by declining sales, high fixed costs, surging debt and unplanned outages that are holding back economic growth. Its two new power plants, Medupi and Kusile, are still unfinished after a decade of construction. Combined, Eskom estimates they’ve cost R292.5-billion to build.

Read More: http://www.engineeringnews.co.za/article/eskom-should-weigh-selling-its-crown-jewels-firstrand-ceo-says-2018-12-07

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