Cash-strapped parastatals need R300?billion

2014-08-17 06:00

Funding gaps in infrastructure and other projects have presented a headache for the state as these projects still need to raise more than R300?billion in funding, but where will it come from?

State-owned freight logistics company Transnet is spending R312.2?billion over seven years on an infrastructure programme called the Market Demand Strategy.

It has raised R37?billion since its 2012 launch.

The Passenger Rail Agency of SA (Prasa) recently launched its R123.5?billion fleet renewal programme with the award of a R51?billion contract backed by the Treasury.

Eskom’s capital expenditure programme has a R50?billion hole between its government guarantees and the amount it needs to build power stations.

Public enterprises spokesperson Colin Cruywagen would not quantify the amount national carrier SAA required, but said reports that it needed R50?billion in funding were wrong.

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