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Cape Town - South Africa faces a R1.5 trillion infrastructure
backlog, and will approach miners and other companies for funding, the public
enterprises minister said on Wednesday.
South Africa plans to invest billions in energy and rail
projects to upgrade and expand its infrastructure.
"Our economy is characterised by very large mining,
industrial and financial companies that have the most to gain from an accelerated
infrastructure programme, and with whom we need to forge social compacts to unlock
their balance sheets and actively build funding partnerships to speed up the
rate of investment in infrastructure," Public Enterprises Minister Malusi Gigaba told parliament during his budget vote. .
He also said the African Development Bank has agreed to a $365m loan to power utility Eskom for a 1 000 megawatt solar and wind park.
