Related Articles
Top Stories
Feb 13 2012 07:58
Greek lawmakers have approved a new round of drastic austerity measures after a long day of street battles between police and protesters left dozens injured.
Feb 13 2012 07:41
A reader gets advice on quick returns on a lump sum.
Feb 12 2012 15:59
Moral hazard, financial weapons of mass destruction, a huge mess - these were the words used by a founder member to sum up the collapse of the Pinnacle Point Group.
Johannesburg - South African state power firm Eskom has appointed JP Morgan Chase and Swiss bank Credit Suisse to help raise funds for expansion, the Business Report newspaper said on Monday.
Eskom plans to raise more than $60bn to address a chronic electricity shortage in Africa's largest economy.
"JP Morgan Chase... was appointed on Thursday to come up with an overall fund plan for Eskom. Credit Suisse... was selected as transaction advisor for the sale of an equity stake in the Kusile coal-fired plant," the paper said.
Business Report quoted Eskom's finance director Paul O'Flaherty as saying JP Morgan would examine 50 proposals to help the power utility raise funds from the bond markets to refinance existing plants.
The World Bank on Thursday approved a controversial $3.75bn for Eskom to develop a coal-fired power plant in South Africa.
Kusile and Medupi are both planned to have capacities of 4 800 megawatts.
- Reuters