Thursday, November 4, 2010

Eskom ’honoured’ by R15 billion loan

Eskom on Thursday said it was truly honoured by the faith that the Development Bank of Southern Africa (DBSA) has shown it regarding its future plans.

The bank and the local power utility signed a R15 billion loan agreement in Midrand on Thursday morning.

The money will be drawn over a five year period to fund various projects to increase the country’s electricity generating capacity.

It’s the biggest loan that the bank has ever approved.

Eskom CEO Brian Dames said, “It’s a very public statement by the bank in terms of its confidence in Eskom and Eskom’s ability."

"We are truly honoured by the faith and trust that your bank has shown in our organisation as well as the future of our country,” he added.

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