• Dangerous games

    Employers' body Neasa is playing a potentially dangerous game, says Terry Bell.

  • Rational thinking

    All players should first consider the net result of their actions, says Leopold Scholtz.

  • Telkom's property poser

    BEE may be hindering Telkom's plans to offload redundant real estate, says Gugu Lourie.

Data provided by iNet BFA
Loading...
See More

Billions for Gauteng water revamp

Dec 09 2010 08:34 Sapa

Related Articles

Eskom turns to water

Durban wants your urine

Senior water officials suspended

Union: Govt in denial over water

Local councils owe state a billion rand

Municipalities owe water boards R1.5bn

 
Johannesburg - Rand Water has created a R5bn domestic medium term note (DMTN) programme as part of a strategy to access funding at competitive rates in the debt capital markets, it said on Wednesday.
 
"The proceeds of the bonds to be issued under the DMTN programme will be used to fund Rand Water's capital expenditure (capex) requirements," Rand Water spokesperson Luthando Kekana said in a statement.

"Rand Water's capex requirement over the next five years is R10bn, 70% of which will be spent to augment bulk water infrastructure," she said.

According to Rand Water CEO Percy Sechemane, the group was undertaking major renovations to ageing infrastructure, related mostly to augmentation and rehabilition of infrastructure over the next five years.

"[For] the provision of appropriate infrastructure for bulk water... the business outlaid R910m (2009: R986m) of capital expenditure for the year under review which was funded through internally generated resources," Kekana said.

Sechemane said that in keeping with the group's strategy, they would increasingly tap new sources like the development finance institutions, project finance and bank funding to fund their growth initiatives.

Rand Water provides bulk water to more than 11 million people in Gauteng, parts of Mpumalanga, Free State and North West province.
water  |  gauteng
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
2 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

A cash flow crunch often occurs in small businesses trying to balance cash coming in with cash going out. Watch this video to help you improve.
 
 

Investment portfolios explained

When it comes to choosing savings and investment products it can seem like an endless universe of options. FutureGuide demystifies.

 
 

Start saving...

Where can you stash your cash?
Time the key for retirement saving
Dummy's guide to saving
Save money with affordable account

Money Clinic

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