Panic as SPEDU goes under the hammer

This follows a writ of execution obtained against SPEDU last month by a company that won a works contract for the design and build of Phase I infrastructure in Bolelanoto and Senwelo industrial sites in Selebi-Phikwe. Attorneys for Marcian Concepts, which won the tender, have instructed sheriff or his deputy to attach and take into execution the movable goods of SPEDU and of the same to be caused to be realised by public auction to the sum of P31, 823, 337.71 following failure to reach compliance with requirements of the contract.

By end of January 2021, the contractor was entitled to suspended related costs totalling P48, 233, 000,39.