Infrastructure: 'we have the resources'
23 February 2012
South Africa.info - February 22, 2012
The state will have about R4.5-trillion in resources to draw on, using a range of financing methods over the next three years, to fund the country's key infrastructure projects, says South African Finance Minister Pravin Gordhan.
Gordhan revealed the figure in a media briefing in Cape Town shortly before delivering his Budget speech in Parliament on Wednesday.
The Budget Review lists 43 major infrastructure projects, each of which will take between seven and eight-and-a-half years to complete, together requiring R3.2-trillion in spending over the next few years.
In his Budget speech, Gordhan said the government had already approved and budgeted infrastructure plans over the next three years to the value of R845-billion - R300-billion of which is in the energy sector and R262-billion in the transport and logistics sector.