• Gupta fallout

    KPMG is still losing staff and clients due to Gupta fallout, according to insiders.

  • Stimulus reaction

    Ratings agency Fitch says SA's stimulus plan is unlikely to boost growth significantly.

  • The Ramaphosa Plan

    The president said on Friday that the work "starts now". He wasn't wrong, writes Pieter du Toit.


Gauteng govt to cough up R1.3bn in Gautrain settlement

Nov 18 2016 13:43
Lameez Omarjee

(Zulfa Petersen, News24)

Company Data


Last traded 16
Change 0
% Change -2
Cumulative volume 214811
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Murray & Roberts SA mulls US oil and gas deal

Construction firms to oppose Sanral's R760m damages claim

Murray & Roberts could face civil suit - report

M1 bridge collapse victim: Why me?

Who’s to blame for Grayston bridge collapse?

Murray & Roberts to fund funerals of bridge collapse victims


Johannesburg – The Gauteng government and Bombela Concession Company (BCC) will pay R1.3bn in a settlement of disputes related to the development of the province's high-speed rail link.

Construction firm Murray and Roberts (M&R) issued a statement on Friday to shareholders saying that the Gauteng Provincial government (GPG) will pay out R980m to the Bombela Civil Joint Venture (BCJV).

M&R is a 45% shareholder in BCJV. M&R also has a 33% stake in BCC.

CORRECTION: Fin24 previously reported the figure to be R249m. The correct figure is R294m. 

This will be accompanied by a payment of R294m over two years. This settlement covers disputes relating to the Gautrain project’s development period.

The Gautrain project involved a public and private partnership. BCJV was responsible for the design and construction of the transport system.

Firms Bouygues and Strategic Partners Group are also shareholders, with stakes of 45% and 10% respectively.

The disputes are related to additional costs incurred during the development of the Sandton station and the John Vorster and Jean Avenues bridges.

There was also a delay and disruption claim which covers 140 individual claims that interrupted the construction. There was further a dispute related to the development of a water ingress, which was “in excess” of the contract specification.

M&R said that the settlement is in the “best interests” of all stakeholders. 

Following the news, M&R's share price was up by more than 11% at R12.10, at 13:30 on the Johannesburg Stock Exchange (JSE).

Read Fin24's top stories trending on Twitter:

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest. 24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

murray & roberts  |  gautrain  |  gauteng  |  settlement


Company Snapshot

Money Clinic

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

Voting Booth

What do you think of President Cyril Ramaphosa's economic stimulus plan?

Previous results · Suggest a vote