Sanral turns to development banks to get projects going
The cash-strapped roads agency has had to shelve several projects due to a lack of funds, partly due to meagre e-toll collections in Gauteng
The SA National Roads Agency (Sanral) is seeking funding from development finance institutions to finally get major toll-route projects off the ground. The cash-strapped agency has had to shelve several projects due to a lack of available funds. Stalled projects include the addition of new lanes on the N1 between Bela-Bela and Polokwane, and the long-delayed addition of a second route at the Huguenot tunnel in the Western Cape. The tunnel is meant to reduce the distance between Paarl and Worcester. “We are pursuing development finance institutional funding for these projects,” Sanral spokesperson Vusi Mona said on Wednesday. Sanral’s lack of funding, partly the result of meagre e-toll collections in Gauteng, is adding to the pressure on the construction sector, where industry stalwarts Group Five, Basil Read and Esor are currently in business rescue. Raubex said earlier in April that the asphalt unit within its road surfacing and rehabilitation division “experienced a significant de...
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