SANRAL confirmed that Basil Read, currently under business rescue, will remain the main contractor on the N1 Polokwane and Musina ring roads, with some of the construction work recommencing on the Polokwane project on 8 October this year. Photo supplied.
Date: 26 November 2018 By: Andries van Zyl
Frequent travellers on the N1 south might have noticed that construction work on the Polokwane ring road re-started in October this year.
All work on this project, as well as the N1 Musina ring road, was stopped when the main contractor on the projects, Basil Read, filed for business rescue on 14 June this year because of cashflow problems. The company was placed under business rescue a day after their application on 15 June. The same day, John Dymoke Lightfoot and Siviwe Dongwana were appointed as the joint business-rescue practitioners tasked with devising a business-rescue plan to help keep Basil Read’s doors open as opposed to having the company liquidated.
Since Basil Read was placed under business rescue, awaiting possible funding, several meetings have taken place between the company’s business-rescue practitioners and the company’s creditors and other stakeholders.
“Basil Read is in the process of re-commencing work on the project [construction of the Polokwane Eastern Ring Road Phase 2 and Musina] following a resolution by business rescue not to liquidate the company on 27 September 2018. The creditors at the meeting, by a vote of 99%, approved the acceptance of the business-rescue plan,” said Mr Vusi Mona, SANRAL’s general manager of communications, in response to a media enquiry by the Zoutpansberger.
Based on this decision, Mona said, SANRAL can confirm that Basil Read is still in business and will continue with both projects. “Basil Read is currently in the process of engaging with major sub-contractors and other critical suppliers to begin work. However, all activities need to be approved by the Business Rescue practitioners in terms of the agreed plan,” said Mona.
Some sections of the work on the N1 Polokwane project restarted on 8 October this year. “For example, residents of Polokwane may have noticed that the Rooiberg Asphalting team have returned to site to complete about 70 000m² of the works that were ready for paving,” said Mona.
Mona said that Basil Read was committed to the process and would continue liaising with the remainder of the sub-contractors and suppliers to ensure a timeous, safe and good-quality project. “The projects have been delayed by about four or five months. The new completion date is estimated to be November 2019,” said Mona. He added that they would do their best to deliver a successful project.
“SANRAL would like to request the support of all stakeholders throughout this trying period and further thank each one for their patience and understanding,” said Mona.
Andries joined the Zoutpansberger and Limpopo Mirror in April 1993 as a darkroom assistant. Within a couple of months he moved over to the production side of the newspaper and eventually doubled as a reporter. In 1995 he left the newspaper group and travelled overseas for a couple of months. In 1996, Andries rejoined the Zoutpansberger as a reporter. In August 2002, he was appointed as News Editor of the Zoutpansberger, a position he holds until today.