South Africa: Chancellor House bought out of Medupi boiler contract

Issue 274 - 28 Mar 2014
A controversial 25% stake held by the African National Congress investment arm Chancellor House Holdings in Hitachi Power Africa, the company which holds the R38.5bn ($3.6bn) boiler contracts at the 4,764MW Medupi and 4,800MW Kusile coal power projects, was acquired by Hitachi Power Europe (HPE) on 1 February. HPE also bought the 5% stake held by Makotulo Investments & Services. The move allowed Hitachi Power Africa to be reorganised into Mitsubishi Hitachi Power Systems Africa, which was launched at the beginning of March.

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