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Gauteng road project costs rocket

May 25 2012 13:58

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Johannesburg - The costs of the first phase of the Gauteng Freeway Improvement Project (GFIP) have increased significantly to almost R90bn, ITWeb Financial reported.

Democratic Alliance Gauteng transport spokesperson Neil Campbell said the entire project, not just phase one, was estimated to cost R6.3bn.

He said the opposition was shocked at the extremely high cost increases of the GFIP and e-tolling, the website reports.

The figures have never been made public, despite attempts by the DA and media to access the information, he is reported as saying.

He cited the huge costs of borrowing which amounted to R38.3bn over a 20-year loan period, the expensive toll operating costs and the possibility of kickbacks as causes of concern.

The South African National Road Agency Limited had not responded to requests for comment by the time of publication, according to the website.

*This article originally appreared on ITWeb Financial.

 
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