Register now for Fin24 Dashboard and get access to portfolios, watchlists, financial comparison tools, and a whole lot more to help you achieve your financial goals.

Data provided by McGregor BFA
All data is delayed
Loading...
Where am I? Home
 
Prices are delayed by 15min.
Join the Fin24.com conversation about JSE-listed stock by using every time you tweet.

R750bn transport plan pitched

May 04 2010 16:25

Related Articles

Rail strike unfair to poor - MEC

SA bus service may grind to halt

World Cup bus stolen

Cape Town airport gets bus service

 

Top Stories

Xstrata shuts furnaces to aid Eskom

Feb 13 2012 12:15

Miner Xstrata says it has brought forward maintenance on two furnaces to assist Eskom to save power.

SA economy adds 80 000 jobs in January

Feb 13 2012 10:43

Although jobs were created, the economy is still 420 000 jobs short of the peak employment level before the 2009 global financial crisis, says Adcorp.

Greece at last approves austerity measures

Feb 13 2012 07:58

Greek lawmakers have approved a new round of drastic austerity measures after a long day of street battles between police and protesters left dozens injured.

 
Share Share line Print

Johannesburg - A three-quarter trillion rand transport master plan, which includes linking Johannesburg to Durban and Polokwane via rapid train networks, was presented to parliament by the transport department on Tuesday.

The plan's project manager, Lanfranc Situma, told the portfolio committee for transport that the department needed urgent approval from MPs so that the cabinet-initiated National Transport Master Plan (Natmap) could "get moving".

Natmap transport planning consultant Paul Lombard recommended to the committee that studies be done on whether it was feasible to extend the Gautrain project to the Durban-Johannesburg and Pretoria-Polokwane lines.

"We must ask if can we afford it and how affordable will it be to passengers and the government," Lombard said.

He recommended the immediate institution of a rail infrastructure-owning entity, similar to the Airports Company of South Africa, that would "eventually absorb" the country's entire network and "allow existing freight and passenger agencies to operate on the network".

The plan, which includes expanding the port of Saldhana, doubling the Huguenot tunnel outside Paarl and expanding the port of Cape Town as other vital projects, would cost about R750bn should it be launched today, financial project manager Themba September told Sapa.

He said part of the plan was to form partnerships with the private sector to help fund the project and lower the burden to taxpayers.

"Overall, between now and 2050, the cost of the project will be around R750bn," he said.

"We would hope to fund a large part of the project through private-public partnerships. We would like to find the right ratio of ownership between the private and public sector."

September could not speculate on a start date for the project, but said it was important that South Africa "wasn't caught napping".

"Someone at some point has to make a hard, cold decision on this," he said.

Situma told the MPs that South Africa could qualify for foreign funding for the rail project as it had voluntarily agreed to reduce its carbon dioxide emissions by 46%.

"If you build a railway or a train, you are going to be cutting down the emissions from the road because there will be less vehicles emitting carbon on the roads.

"Because of that, we will qualify for funding which other people are getting. That money is readily available."

The Natmap was initiated by cabinet in 2007 to develop and establish a multimodal transport system to meet South Africa's needs up to 2050.

It was drawn up through the transport department by consulting engineering company SSI Engineering and environmental consultants Africon and Ingerop South Africa. It cost R64m. - Sapa

 
 
Comment on this story
69 comments
Add your comment
Comment 0 characters remaining
Facebook still a closed book in China
Feb 08 2012 16:59

Mark Zuckerberg wants to ''friend'' China's massive market but how far is he prepared to go, and against what competition?

NicolaaSmith

IFRS authorize Capital Maintenance in Units of Constant Purchasing Power except during hyperinflation Capital is required to create wealth. Sustainable wealth creation is the sustainable profitable application of real capital. Capital is generally saved up wealth or borrowed financial resources at ... Read their blog...

Recently updated
Podcasts
The Sishen saga

Legal expert Peter Leon on the increasingly complex legal wrangle over the Sishen Iron Ore mine. Time: 8:17 Listen Here...

Before you list

Is the clarion call of the JSE calling? Listen to Fin24’s expert panel discussion before you list your small business. Time: 17:29

Compare and Buy

Compare and apply for hundreds of financial products from many suppliers.

Credit cards Medical aid Current accounts Think Money

Money Clinic

Money Clinic Do you have a question about your finances? We'll get an expert opinion.
Click here...

Loading...