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Microcap & Penny Stocks : FBCE
FBCE 0.00010000.0%Oct 31 9:30 AM EDT

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To: WineOh who started this subject4/15/2002 9:57:05 AM
From: REH   of 365
 
FiberCore proceeds with Somerset West plant

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Business Editor

CAPE TOWN FiberCore Africa, a joint venture between FiberCore of the US and an SA consortium led by the Industrial Development Corporation, is forging ahead with plans for a R320m optic fibre plant in Somerset West after having formally rejected a proposed site near Muizenberg as "fatally flawed".

Consulting engineers SRK Consulting was appointed in January to investigate the feasibility of the former AECI explosives factory in Somerset West, scene of the 1995 sulphur fire that resulted in two deaths.

The search for an alternative site for the proposed plant came after the Muizenberg site was scrapped when engineers discovered that the bedrock required for foundations was covered by up to 50m of sand and was therefore geotechnically unsuitable.

A draft scoping study on the Somerset West site, released last month, recommended that a visual impact assessment, air emissions study and risk assessment be carried out as part of a full environmental impact assessment.

A public meeting was held on March 26 and interested parties were invited to comment on the draft report by April 19, before a final scoping report was submitted to the authorities for approval.

Max Ellwood, who represents the Helderberg Conservation Forum among other groups with an interest in the Somerset West site, said he had initially been "very critical" of FiberCore's "cavalier attitude" after it became clear that the volume of chemical raw materials to be stored on site was significantly higher than earlier estimates. In one case the volume rose by a factor of 35-tons to 700tons a year.

Of particular concern to the forum was the material silicon tetrachloride, which Ellwood describes as "pretty nasty stuff, particularly if it comes into contact with water".

Residents have also voiced fears over the storage of the highly toxic chlorine gas on site, although it has been pointed out that many municipal swimming pools in residential areas and routinely store larger volumes of the gas.

Ellwood said he had been reassured by representatives of FiberCore, who explained that there was a need to store greater volumes of chemicals on site as a decision had been made to beneficiate locally rather than importing processed glass from Germany.
Apr 12 2002 12:00:00:000AM Dave Marrs Business Day 1st Edition
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