Upgrade: Umgeni Water secures R385 mln loan

2011-12-06 00:00

GIANT water utility Umgeni Water has secured a R385 million (€35 million) loan with the European Investment Bank to upgrade bulk water infrastructure that serves five million consumers in Durban, the north and south coast and the Midlands.

Umgeni Water said at the weekend that the deal enables it to upgrade bulk potable water pipelines, water treatment works and pumping and service reservoirs that will connect to the supply systems of various KZN municipalities, including eThekwini and Msunduzi.

This is the first loan to be made to a South African water board by the EIB, which is the long-term lending institution of the European Union (EU).

The EIB is owned by EU member states.

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