South Africa Infrastructure Development Uses up US $0.08tn

The Government has spent an estimated US $0.08trillion for South Africa Infrastructure Development by the end of 2014. According to Minister Jeff Radebe, this money was used in areas such as water and sanitation infrastructure, rail and road transport, hospitals renovations and other sectors.

Minister Radebe also highlighted during the Vision 2030 Summit some of the works that were underway and fell under the National Development Plan (NDP) implementation in the area of South Africa Infrastructure Development. NDP’s aim is to eliminate inequality and poverty by 2030.
Minister Radebe further highlighted that part of the money was used in investments in the energy sector such as the construction of Medupi and Kusile power Stations plus the construction of the iNgula Pumped Storage Scheme.

In the four bidding windows, the renewable energy sector has seen an investment of US$13.66m.

South Africa is now a global leader in renewable energy with 79 Independent power project adding up to 243MW.
Other investment that have added up to that amount include the manufacture of more than 1000 locomotives by Transnet at a price of US $4.07bn, US $0.56bn investment on ports as part of Operation Phakisa by Transnet Ports Authority.

The construction of the New Berth in Saldana Bay, extension of Mossgas Quay and Refurbishment of offshore supply base used US $0.75bn. PRASA’S hybrid locomotives acquired a total of us $0.31bn while US $0.08bn went into the Moloto road upgrade.

Another US $1.06bn was used for Research, Development and Support Programme through the Department of Science and Technology.
US $0.22bn will be transferred to the National Research Foundation for the support of researchers, master’s students and doctoral students.
Minister Radebe emphasized that expenditure in South Africa Infrastructure Development was in a move by the Government to expand the economy of the country and improve the lives of people.

source :

Posted on : 30 Nov,-0001

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