PetroSA’s Project Ikhwezi initiative has been granted regulatory approval by the National Energy Regulator of South Africa (Nersa).

The project, which is PetroSA’s flagship initiative to secure additional reserves to sustain its Mossel Bay gas-to-liquids (GTL) refinery, will produce gas feedstock from the offshore F-O development fields.

PetroSA said the approval is a major milestone, allowing the National Oil Company to produce natural gas from the F-O development fields when the project is commissioned.

Pratt & Whitney and IndiGo have signed a definitive agreement for PurePower PW1100G-JM engines for 150 Airbus A320neo family aircraft.

The agreement includes 300 firm PurePower PW1100G-JM engines with additional options and a long-term PureSolution maintenance agreement. Deliveries are scheduled to begin in 2015. 

South African pharmaceutical company Adcock Ingram has announced its acquisition of the Indian pharmaceutical brands of Cosme Farma Laboratories.

The deal, thought to be worth around R708 million, will see Adcock acquire the marketing assets of the pan-Indian branded sales and marketing pharmaceutical business, which is based in Goa and Mumbai, India.

BMW Group has today announced a £250 million investment in its UK manufacturing operations by the end of 2015.

The investment will be made at BMW’s manufacturing plant in Oxford, its steel body pressings operation at Swindon and its engine plant at Hams Hall near Birmingham, to support the company’s international growth strategy for the MINI brand with increasing volumes and up to 10 different models in the new line-up in the mid-term.

The move comes on top of the £500 million UK investment announced in June 2011 and will secure 5,500 UK jobs.

Chemicals manufacturer BASF has said it will expand its vinylformamide (VFA) capacity in Germany and China in order to meet growing global demand.

The company will expand its manufacturing plant for VFA in Ludwigshafen, Germany, as well as increasing its polymerization capacity. It will also build a new polymerization line for VFA in China for further processing of the feedstock from Ludwigshafen. This facility will be built at the Zhenjiang site, Jiangsu province.

What is the best business book you have ever read, and why?

The Wealth of Nationsby Adam Smith. It reveals the theories that have inspired powerful economic and social changes in the world.

Someone you would most like to have met, living or dead, and why?

Warren Buffet. I admire thisbillionaire investor’s unique approach to management and investment. The opportunity might arise in the near future to have lunch with him and potentially do business together.

In a collaboration with Genesis Soils, dust control and soil stabilization specialist PennzSuppress has announced the introduction of PZS/Bio-Gen.

Due to the increased need for aggressive mine tailing remediation and erosion control, PennzSuppress D has been combined with mycorrhizal fungi and beneficial bacteria and grass seed in a liquid combination which virtually eliminates the need for traditional hydro seeding applications in most situations.

Airline services company Gate Gourmet has agreed to acquire catering facilities owned by Qantas Catering Group in Australia.

The catering businesses, run by Q Catering, are a Riverside facility in Sydney and a Cairns-based operation in Queensland. Both offer a full suite of catering services, including menu development; meal production; aircraft provisioning; post-arrival unloading; and dishwashing and equipment warehousing. The Cairns facility also offers cabin cleaning.

On American Independence Day, we hear that patriotism is the US plays a big role in consumers’ choice of automobiles.

According to the July edition of the Shopper Insights Report from the AutoTrader.com trend engine, 41 percent of car shoppers recently surveyed say that it is important to purchase a vehicle built in the US by US workers, versus 28 percent who say it is important to purchase a vehicle made by a US automaker somewhere else.