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South Africa’s economy will be destroyed by this unnecessary nuclear power build

Watch: How South Africa’s nuclear plans will destroy the economy http://businesstech.co.za/news/energy/136935/watch-how-south-africas-nuclear-plans-will-destroy-the-economy/ By  September 16, 2016 

The video shows how South Africa’s nuclear plans came to be – from being secretly signed off on in 2013, to being pushed forward by under-handed deals with Russia – including who stands to benefit most from the plans.

According to Outa, it is estimated that South Africa will have to borrow as much as R1.2 trillion to fund the plans, which would cripple the economy with R100 billion a year repayments needed.

The debt would be added to the over R1.89 trillion in debt the country already has, pushing the total to R3 trillion – a ‘nuclear bombing’ of the economy.

Outa argued further, saying that the nuclear build is unnecessary (echoing sentiments from energy expert Chris Yelland), with various renewable energy projects set to contribute more than enough power to the grid to meet needs over the next 15 years.


South Africa’s ‘s Nuclear Bomb – Why Government’s #Nuclear Deal Will Destroy SA

 

 

September 17, 2016 - Posted by | business and costs, South Africa

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