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Power station can become asset

Kroonstad once had the ability to generate a great share of its own electricity.

The Kroonstad Power Station has not been in operation for more than two decades.

During the reign of Mokete Duma as municipal manager of Moqhaka, a deal to sell the power station for the establishment of an environmental friendly power station, was stopped by the Freedom Front Plus through a High Court interdict since a moratorium on the selling of municipal land was not adhered to by the municipality.

The purchase price was also not in line with the value of the land and the infrastructure of the power station which generated electricity by means of coal and purified sewer water.

The power station can however now become an asset to be proud of, should free and fair business principles and the securing of investments by means of negotiations with investors be transparent and with a spirit of attracting investments to Moqhaka, Spiro Khoury, the chairperson of the Moqhaka for the People (MFP) believes.

Khoury announced in a statement that he received a letter of intent from an international investment institution, Imperial Investment Ltd, to upgrade the Kroonstad Power Station.

“Last week the MFP had a meeting set up with the executive mayor and the municipal council to discuss this matter.

“Unfortunately the Moqhaka mayoral office informed me that Tshidi Koloi, executive mayor, has medical problems and could not attend the meeting,” Khoury said.

Although the intent to refurbish and upgrade the power station is good news, the MFP and residents of Kroonstad face a problem as the letter of intent has restrictions, Khoury said.

This restrictions include 30 days to begin and have financial diligence and valuation work done, 90 to 130 days for the drafting of a definitive agreement and submissions.

All this must be done within 150 days or by the latest 1 February 2019 for official signing and starting of the project, Khoury stated.

“I received the letter on 1 October 2018. We (MFP) had a meeting secured for 4 October and the Moqhaka Municipality cancelled the meeting,” Khoury said.

He claims that although the MFP is only six months in operation, this organisation has secured an investment of ten billion US dollars (some R150 billion) for Moqhaka, which would lead to jobs for approximately 110 000 people.

According to Khoury, to upgrade the power station would be to the advantage of residents, because electricity prices have skyrocketed to the disadvantage of consumers due to price increases by Eskom.

Should Moqhaka generates its own electricity, the unit price could be between 56 cent per unit to a maximum of R1 per unit.

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