CIVIL PROJECTS

The Basil Read Civils Division has been integrally involved in upgrading the port of Durban for Transnet.
The R 290 million contract value involved the transformation of the old multi-purpose terminal at Pier-One into a modern container terminal. Basil Read has subsequently also been contracted to provide the complete infrastructure for Pier-Two in the Port of Durban.  Construction of the project, valued at approximately R 430 million, commenced in April 2008.

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In addition, the Civils Division continues to make impressive headway in Mpumalanga as the Mbombela stadium in Nelspruit, being built for the 2010 World Cup, is set to be completed and ready for handover on time and within budget by May 2009.

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On 7 April 2008, the Basil Read Newport Construction Joint Venture was awarded the R 200 million contract for the construction of the Coega River Bridges.  The contract is located 20 km north east of Port Elizabeth and includes two road bridges over the Coega River Bridges River and approach roadworks.

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Basil Read in Joint Venture with Group Five, Stefanutti Stocks and WBHO has been awarded the Kusile Power Station Main Civil Works by Eskom.

The contract value is R2.9 billion and the JV will gain access to the site on 8 December 2008 for the purposes of planning, piling tests and soil investigation, with full access granted on 19 January 2009.

Basil Read has been appointed by Bombela Civils Joint Venture to construct the Gautrain Park Station box and car park next to the existing Park Station in Braamfontein JHB. The underground station box is approximately 200m long, 17m wide and 17m deep. The car park is seven storey’s high. The contract value is R 115 828 000. Commencement date of this project is April 2008 and is set to be completed by September 2009.

ROAD PROJECTS

The Basil Read Roads Division was awarded its largest contract to date – the R 1.7 billion Gauteng Freeway Improvement project commissioned by SANRAL as part of the 2010 Roads Improvement Project. Basil Read, in a Joint Venture with Roadcrete and Dip Civils (Basil Read – 70%; Roadcrete – 20%; Dip Civils – 10%), has been awarded two packages including improvements between Brakfontein to Flying Saucer interchanges and improvements between Atterbury and Scientia (N4 Interchanges). Construction on the project began in May 2008, with the intention of it being completed before the May 2010 deadline.

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The BRDC N17 Joint Venture (Basil Read and Dip Civils) has been awarded the contract for the National Route N17 Section 03, upgrading of Trichardfontein to Bethal.

The contract value is R343 236 363.54 and will commence on 30 January 2009 with a contract period of 24 months.

The work entails the upgrading of the proposed National Route N17, Section 3 between Trichardtsfontein and Bethal in Mpumalanga (N 17-03, km 36,80 to km 60,82). A portion of the road (1,5 km) through Bethal needs to be re-aligned in order to upgrade the continuity of the route. The re-alignment necessitates the construction of a new bridge over the lesbokspruit as well as a new interchange at the intersection of the N17 and Road PS2-3. In addition the Bethal Town Section extending from Mafrayi Dludlu Street to the R35 intersection (N17-04, km 0,284 to km 3,184) shall be reconstructed.

The Sasolburg contract encompasses the rehabilitation and upgrading of two sections of the R59 passing Sasolburg between the Vaal River and the N1 highway. The Sasolburg contract joint venture (60% Basil Read, 20% Set Time and 20% Thulahohle Construction), is the largest contract ever awarded by the Freestate Province with a total value of R225 380 279.95. The contract time period was set at 28 months – starting from 10 January 2007 and ending on 30 June 2009.

MINING PROJECTS

Basil Read Mining, Blasting and Excavating (B &E). The Basil Read Mining Open-Cast arm currently has two contracts in Botswana and one in Namibia.

Basil Read Mining Namibia has been awarded a 3 year contract extension at Rössing Uranium Limited in Nambia. The contract starts 01 September 2008 and is due to finish 31 August 2011. The works include the Openpit Mining of the South West Expansion of the SJ Pit. This is the first phase of a 3 year contract worth N$382 579 920.52 (Excl. VAT).

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B&E has been awarded the contract for the DeBeers Venetia Mine Percussion Drilling Project. The contract is worth R138 million with a contract period of 36 months. Major works include the drilling of 165mm and 127mm percussion holes at the Venetia open pit mine.

BUILDING PROJECTS

Basil Read, in a joint venture with Murray and Roberts Construction, is the main contractor of the Galleria Shopping Centre in Umbogintwini, Kwa-Zulu Natal.  The project is a 60/40 split with Murray and Roberts with Basil Read as the lead partner. The complete contract is valued at R670 million.

Another successful shopping centre development completed by Basil Read is the West Coast Mall, a new double storey retail mall, situated outside the town of Vredenburg on the R45 Provincial Road leading to Saldahna Bay in the Western Cape.

Construction on the new West Coast Mall began in October 2007 in anticipation of it’s scheduled opening in March 2009. The R365 million project is being developed by Retail Africa and promises to boost to economic growth in the West Coast area.

Construction of Phase Two started on 6 April 2008, with the completion date set for 22 July 2009. The revitalisation of Paarl Hospital will adequately equip the establishment in fulfilling its role as the Level Two hospital specifically for the rural population of the Winelands.

The Basil Read Building Division was awarded the Government project to construct a new daycare facility at the Chris Hani Baragwanath hospital early in 2005. Construction on the facility began in October that same year and is scheduled for completion by April 2009.  This construction phase of the hospital includes work on the ground floor, first and second floors, an ambulance bay, Accident Emergency and Trauma (AET) unit, Radiology (ground and first floor), a pharmacy (ground and first floor), a 900m long service tunnel and six plant rooms.

Basil Read is currently involved in the design and construction of the St Micheil’s Leisure Estate, adjoining the N4 in Mpumalanga. The estate is situated in 800 hectares of rolling hills, with each North- facing stand being approximately 2600m2 in size.  At least 88% of the Estate will be left untouched, allowing for abundant space and privacy.

DEVELOPMENTS

As part of its approach in taking an equity stake in developments where possible and when appropriate, Basil Read has a one third equity interest in the St. Micheil’s International Estate, a luxurious residential golf estate in Mpumalanga.  The key features of this development include a golf course, clubhouse, residential housing, an equestrian centre and trout fishing facilities.

As some of these luxury developments come under pressure due to a declining residential market, Basil Read CEO Marius Heyns says the project delivery on the St. Micheil’s estate has been modified according to the economic slowdown to ensure that the project remains secure and firmly on track. “The various phases will be adapted according to economic changes and completion will be phased according to the cycle. Phase One is already complete and by the middle of 2010, residents will be able to play on the first nine holes of the Lee Westwood Signature golf course.”

Commercial and industrial development continues to hold up well and The Klipriver Business Park, in the south of Johannesburg, is one of Basil Read’s most recent deals. This light industrial development started off as a joint venture, but Basil Read has since acquired the land and is now the sole developer of this project, which is well placed adjacent to the Heineken Brewery.

In partnership with Old Mutual Investment Group South Africa, Basil Read will be constructing the Doornkuil affordable housing development in the Midvaal Municipality, south of Johannesburg. This follows on the back of the highly successful and continuing Cosmo City mixed residential development.  The group will also be developing a low cost and middle income project for the Garden Cities group in Cape Town, based on the Cosmo City concept.  Together with local Welkom company, Sechaba Solutions, it is developing yet another mixed use integrated housing project on the Phakisa Estate in Welkom. State-owned financier National Housing Finance Corporation (NHFC) will be a part funder of this 6 000 housing unit development. The value of the development pipeline is in excess of R10 billion.