South Africa announces £63bn infrastructure plan
25 October 2011
South Africa has announced its intention to focus on improving the country's infrastructure, with £63 billion earmarked to boost services in the next three years, reports Engineering News.
Public sector infrastructure investment has increased to 7.5 per cent of South Africa's gross domestic product in 2011 and the country plans to spend more improving energy, transport and logistics as well as municipal and housing infrastructure by 2014.
The aim of the plan is to narrow the gap between spending and revenue while strengthening the economy.
Finance minister Pravin Gordhan said that the country needs to invest in a way that "will help stimulate our economy and increase job creation".
As part of his medium-term budget policy statement, Mr Pravin said that key features of the capital investment programme will include improving the road network and expanding freight railway lines to support mining production.
South Africa's cabinet is currently considering proposals for a 9,600 megawatt nuclear power plant that would be completed by 2030.