Cosatu not benefiting from e-tolls

2012-05-23 20:14
Johannesburg - A company in which Cosatu's investment arm Kopano Ke Matla had a stake in was not involved in the implementation of e-tolls, the trade union federation said on Wednesday.

"Raubex, the firm in which Kopano Ke Matla has a 3% stake, was involved in the construction of roads that were later e-tolled, and not at all in the implementation of e-tolls themselves," the Congress of SA Trade Unions national spokesperson Patrick Craven said in a statement.

This followed a report in The Times newspaper earlier that Cosatu was "embarrassed" when it was revealed that Kopano Ke Matla had a stake in a company that was benefiting from the e-tolling of roads.

Last month, it was reported that Raubex won a tender to build the R21, which formed part of the Gauteng Freeway Improvement Project.

Raubex received R800m for the project.

Kopano Ke Matla would have received R24m as a result of its 3% share, according to the report.
Read more on:    cosatu  |  tolls  |  transport

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