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Atomic reactor for South Africa

South Africa and a Japanese company have agreed on the construction of an atomic reactor. Mitsubishi Heavy Industries will help to design and develop a helium-driven turbo-generator system, the major component of a nuclear power plant planned by South Africa. PBMR (Pty) Ltd., a South African nuclear power engineering company set up in 1999 to develop pebble bed modular reactors (PBMRs), plans to use the system to build the reactor at Koeberg near Cape Town.

Successful operation of the PBMR demonstration unit would lead to
commercialisation of small-size, high-temperature gas-driven nuclear power
generation systems, Mitsubishi said in a statement. South Africa plans to introduce at least 8 PBMR modules, with the first commercial reactor to produce energy by 2013. A PBMR reactor plant for 1320 megawatt can be built by configuring eight 165-MW reactors at one site. PBMR (Pty) Ltd. is owned by Eskom and the Industrial Development Corporation of South Africa together with British Nuclear Fuels. The PBMR is said to be a small and cost-efficient reactor with power generating capabilities that require relatively low initial investment. In Germany the development of PBMRs was stopped decades ago as the system proved unprofitable for electricity generation.

Bank repo rate unchanged

The Bank of Namibia has decided to retain the Bank rate unchanged at 7.5 %. Given the existing exchange rate arrangement, this decision is also in line with the decision of the South African Reserve Bank’s Monetary Policy Committee that left its Repo rate unchanged at 7.5 percent on 9 December. The Bank of Namibia’s next review of the Bank rate position, for next year will be on the 10th February, 2005. In Namibia, the annual inflation rate continued to trend upward and reached 4.8 percent in October, from 4.1 %and 2.4 % in September, the BoN said. Namibia’s economy has shown a brisk performance during the third quarter of 2004. Major real sector performance indicators such as the number of vehicles sold, output of diamonds and base metals, electricity consumption, close co-operations and companies registered have shown a positive economic outlook in the third quarter. However, some indicators such as livestock marketed and tourist’s arrivals signalled a decline.

Military Airbus planes to South Africa

South Africa will acquire a number of A400M military transport aircraft developed by Airbus Industrie in a deal worth at least 750 million euros, Airbus said in a statement. It was not revealed how many planes might be ordered. Airbus Military, an Airbus subsidiary, said a "declaration of intent" had been signed Wednesday in Pretoria, marking the first commitment of interest in the A400M from a government outside the 7 countries that launched the project. The South African Transport Department said the government was prepared to sign a multi-million-euro deal to buy between eight to 14 Airbus A400M military transport aircraft in exchange for investment, technological knowledge and jobs, according to news reports.

In return for buying the aircraft in a deal valued from 837 million euros
between 2010 and 2014, South Africa would also participate in the A400M design and manufacturing programme.

The A400M troop and light armoured vehicle carrier is the most ambitious
project ever launched by the European military industrial sector, carrying an
estimated cost of 20 billion euros. To date 180 planes have been ordered: 60 from Germany, 50 from France, 27 from Spain, 25 from Britain, 10 from Turkey, 7 from Belgium and one from Luxembourg. Airbus Military hopes to sell at least 200 in the next 15 to 20 years. The first flight is scheduled for 2006, with initial deliveries planned for 2008.