PRASA Embarks On Second Market Engagement Focused On Broad Based Black Economic Empowerment (BBBEE) Requirements

21 November 2011

With the finalisation and presentation of the Feasibility Study on the procurement, financing and maintenance of rolling stock for the Metrorail services to Cabinet the previous week, PRASA is now focusing on the second round of Market Engagements focusing on its BBBEE requirements for the manufacturing of new rolling stock.

The Market Engagement will be held at the Sandton Convention Center on 22 November 2011 and will again be undertaken through an Intergovernmental Steering Committee which includes the National Department of Transport, Department of Trade and Industry, National Treasury, Department of Public Enterprises, Railway Safety Regulator (RS) and PRASA.

“The Market Engagement on BBBEE requirements is part of PRASA’s commitment towards ensuring adequate participation by all South Africans in the process of reversing the past legacy of non-investment into passenger rail services” said Lucky Montana, PRASA Group CEO.

Government has already committed over R100 Billion towards the procurement of new rolling stock while PRASA, in partnership with key Government Departments including National Treasury and the RSR have engaged the market on their appetite for such a project from a technical, commercial and financial point of view.

“We communicated our vision to the market during our initial Market Engagement in April this year and have set a 65% local content and BBBEE requirements. We are keen to continue these engagements with the market to highlight the role of BBBEE within the broader understanding of the requirements for new rolling stock” added Montana.

The engagement process is not a request for proposals, nor a request for Expression of Interest by PRASA in any form but will seek to establish the following:

• An understanding of the ability and capacity for the production and supply of components of rolling stock required;
• Familiarise the South African market with the project and its BBBEE requirements; and
• Potential blockages which might hinder the meaningful achievement BBBEE in the rolling stock fleet renewal programme.

BBBEE MARKET ENGAGEMENT DETAILS:
DATE : TUESDAY, 22 NOVEMBER 2011
TIME : 10:00
VENUE : THE SANDTON CONVENTION CENTRE
RSVP : marketengagement@prasa.com
(please do not RSVP to any other email or PRASA representative)

ADDITIONAL INFORMATION/DOCUMENTS:
See BBEE Market Engagement – November 2011