Royal Bafokeng Holdings is involved in two oil and gas projects in Saldanha
Bay in the Western Cape that could result in a total outlay of just more than R4 billion.
The first project is the
Sunrise Energy liquid
petroleum gas (LPG)
import facility, situated near ArcelorMittal’s Saldanha steel mill as
well as Transnet’s iron
ore handling facility, to which Anglo American’s Kumba Iron Ore rails its
iron ore from its mines in the Northern Cape.
Royal Bafokeng holds a 30.6% stake in Sunrise Energy.
Phase 1 of the project,
costing R1 billion, was
commissioned on May 27 and was officially
launched this week.
Other key shareholders
in Sunrise Energy include the Industrial
Development Corporation with a 31% stake, and the Public Investment Corporation with 29.4%. Sunrise Energy CEO Pieter Coetzee said this week that the next two phases
planned for the Sunrise Energy terminal would
each cost R200 million, resulting in a total further outlay of R400 million.”