Loading...

Power cuts cost manufacturing sector R6bn

Dec 09 2014 07:59

Cape Town - South Africa's chronic power shortages have cost the steel and engineering sectors R6bn in lost output, an industry body said on Monday.

Power utility Eskom has started a series of power blackouts across the country over the last three weeks due to decades of under-investment in new power generation and maintenance on current infrastructure.

The Steel and Engineering Industries Federation of Southern Africa said in a statement that the electricity shortages were damaging South Africa's reputation as an investment destination and causing "untold harm" to its economy.

READ: Eskom briefing on outages

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

energy crisis  |  load shedding
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
35 comments
Comments have been closed for this article.
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

How sincere do you think is President Cyril Ramaphosa?

Previous results · Suggest a vote

Loading...