A respected large Chinese Engineering group, Dadi Engineering Development Group, has bought a stake in a local project engineering firm, ProMet Engineers Africa (Pty) Ltd.
The transaction has led to a merger of capabilities of ProMet Engineers Africa and Dadi Engineering of China, bringing large scale Lump Sum Turn Key (LSTK) capability, global efficiencies, world class project engineering and management systems.
The company, to be known as ProMet Dadi Africa (Pty) Ltd, has shortly after inception, won a contract for the Engineering and Procurement portions of a major gold mine in Kyrgystan.
Prior to the transaction, ProMet Engineers Africa, headquartered in Cape Town with offices in Johannesburg and Australia, and representation in Botswana, Nigeria and Sudan, had concluded projects for Anglo Coal, Xstrata, Kumba Iron Ore, Eskom, BHP, China Minmetals, among others.
The new capability of ProMet Dadi Africa brings over 2000 Project Managers, Master and Professional Engineers to bear on mining projects within the African marketplace. ProMet Dadi Africa now has the ability to undertake Lump Sum Turn Key contracts of up to US$ 300 million directly on its combined balance sheet. In an EPCM environment, the western management processes will allow utilization of the full engineering capability across disciplines for Global clients. Coupled with this is the speed of execution, group procurement, highly efficient design capabilities and familiar Western Project Procedures and management techniques.
Commenting on this development, ProMet Dadi Africa’s Managing Director Mr Rob Bennett said: “With an increasing Chinese investment level in African-based resource projects, familiarity with a significant Chinese capability and marketplace is becoming ever more necessary. Africa has long been a leader in Project Execution, Management and Engineering, and this development allows ProMet Dadi Africa to truly bring global efficiencies to projects in a well managed and structured manner.”
Mr Bennett went on to describe, “We have already seen projects that are struggling to pass the hurdle in higher cost environments become re-invigorated by this approach, bringing significant savings on Capital as well as in Project Execution times. We are also pleased that this transaction provides a portal for South African capabilities into markets historically closed to us.”
“Interestingly, our first project post the merger was a study for an American Coal company looking to invest in China. ProMet offered certain Project Management skills from South Africa”.
“The Dadi Engineering Development Group has been specifically involved in the design, engineering, commissioning and in certain cases the operation of over 400 MTPA of China’s coal processing capability over the last eight years, accounting for in excess of 21% of the installed capacity in China. Dadi brings all this experience and capability to our company, allowing us to deliver projects quicker and more cost effectively than ever before.”
Dadi’s ISO 9001 and 14001 systems approach means that quality is maintained complimentary with ProMet’s project management systems approach.”
For further information or enquiry, contact rob.bennett@ProMet.co.za or telephone +27(0) 21 556 9759.
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