Emirati mining firm International Resources Holding (IRH) and South African asset manager Public Investment Corporation will collaborate on new projects within South Africa’s green energy, transport and logistics, and mining industries.
According to a joint press release, the two companies will cooperate on decommissioning South Africa’s coal-fired power plants and developing sustainable green energy, as well as expanding the country’s freight rail and port infrastructure and maximizing production from “underperforming and undeveloped” mining assets.
“This MoU represents a step forward in realizing South Africa’s full economic potential and addressing the current energy and logistics challenges the country is facing,” said Ali Rashdi, IRH CEO.