Speeches for the Energy Sector, 2010
MEDIA STATEMENT: PBMR RESTRUCTURING
18 FEBRUARY 2010
PBMR has recently announced it will have to consider staff retrenchment as part of its rationalisation process. Government is fully aware of and supportive of the rationalisation process which has become necessary as PBMR’s government funding allocation comes to an end on 31 March 2010, and no further funds have been allocated to the company going forward. This is because Government’s original funding allocation required that PBMR attract additional investment through investors other than government, and that it secure a customer for its product, both of which it has been unable to do despite its revised business model and product offering.
A government inter ministerial task team has therefore working on the future direction of PBMR that will attempt to ensure that valuable nuclear skills, expertise and technology developed by the company are not lost to South Africa and are retained for application in a possible future nuclear power generation programme.
A final decision on the way forward for the company is expected in August 2010 and the rationalisation being contemplated by PBMR is to extend the operational life of the company to that point using its existing funding allocation.
Issued by the Department of Public Enterprises
012 431-1111/ 079 880 2059