Africa-Press – South-Africa. Stefanutti Stocks will receive R580 million from Eskom as per a settlement following a dispute linked to the Kusile Power Station.
In October, the Dispute Adjudication Board ruled that Stefanutti is entitled to an additional payment of R685 million, excluding value-added tax, from Eskom.
The parties had been in a dispute over work done at the Kusile power station – the world’s most expensive coal-fired power station.
Eskom claimed that Stefanutti was overpaid by R1 billion for its work at Kusile, while Stefanutti argued that Eskom owed it money.
Eskom expressed dissatisfaction and indicated that it intended to have the award set aside in its entirety by the High Court of South Africa.
If Eskom were successful, Stefanutti said that Claim 5, which refers to its claims up to the end of December 2019, would be referred to arbitration.
This would recommence the entire claims process.
With this in mind, the Board of Stefanutti approached Eskom with a view to reaching a settlement for their disagreements.
Stefanutti and Eskom, today, 24 November 2025, signed a full and final settlement agreement for an amount of R580 million (excluding VAT)
This constitutes a mutual settlement of all actual or potential claims, disputes, or entitlements either party may have against the other due to the Kusile contract.
As per the agreement, Eskom must pay the total amount by 12 December 2025.
As part of a facility with Standard Bank, Stefanutti will utilise at least 80% of the proceeds from the settlement to settle its outstanding facility.
For More News And Analysis About South-Africa Follow Africa-Press
