Sanral raises R300m in bond auction

Johannesburg - The SA National Roads Agency Limited (Sanral) raised R300m during July in its fourth bond auction of 2011, the agency said on Wednesday.

"A total of R1700 million has been raised in the monthly auctions this year," spokesperson Inge Mulder said in a statement.

She said the funds had helped in the implementation of major road infrastructure development projects around the country such as the R30 Bloemfontein to Kroonstad and the N17 Springs to Ermelo projects.

Other road maintenance projects funded this year included the Tsitsikamma, N1 north to Beitbridge, N1 south to Bloemfontein, N3 Pietermaritzburg to Durban, and the N2 north and south coast projects.

Sanral thanked its investors for their continued support of the agency's capital raising initiative.

"The agency is committed to using these funds wisely and effectively for the development and execution of national road infrastructure projects around the country to the benefit of South Africa's economy and its citizens," Mulder said.