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NEF provides R48m funding boost for KZN energy project – Engineering News

The National Empowerment Fund (NEF) has invested R48-million in the construction of a R150-million heat and power plant in Newcastle, in KwaZulu-Natal, which is set to create some 220 local jobs in the former coal mining town.

The investment will comprise ordinary equity of R12-million and a shareholder loan of R36-million, which will include warehousing 40% of the shareholding for broad-based black economic-empowerment investors. The balance of the funding will come from the Industrial Development Corporation.

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