The Special Investigating Unit is probing 11 contractors for stealing a staggering R139bn during the building of Eskom’s Medupi, Kusile and Ingula power plants.

And insiders say the total cost of Eskom looting could reach about R500bn, dating back to 2005.

SIU spokesperson Nazreen Pandor said the unit was probing the theft of R170bn from Eskom — R139bn of which is directly related to contractors working on the power plants.

She said that after an “intensive scoping exercise” the unit had prioritised, among other things, investigating “the performance of, and payment made to the value of more than R139bn to 11 identified contractors appointed by Eskom in respect of the Medupi, Kusile and/or Ingula station”.

This makes up a massive chunk of the R334bn spent on building the plants — and suggests that public enterprises minister Pravin Gordhan’s estimate last year that about R100bn was lost to state capture was way below the mark.

Read the full story in the Sunday Times.