Chapman's Peak interim due in a week

Posted On Monday, 16 March 2009 02:00 Published by eProp Commercial Property News
Rate this item
(0 votes)

A task team investigating the Chapman's Peak Drive private-public partnership governing the toll road will in a week's time submit an interim progress report.

Road InfrastructureA task team investigating the Chapman's Peak Drive private-public partnership governing the toll road will in a week's time submit an interim progress report to Western Cape Premier Lynne Brown, the provincial government said on Sunday.

"The high level team tasked with (the) investigation will in a week's time submit an interim progress," said Western Cape spokesman Koketso Sachane.

He said the head of investigation Joey Pillay has confirmed that the team's work was on track to meet its end of March deadline for the final submission to the premier.

"The interim report to be submitted to the Premier will outline the progress of the investigation as well as briefing the Premier on any areas which need further attention and investigation before the final submission deadline," Pillay was quoted as saying.

Chapman's Peak drive, which is operated by the Entilini Concession, been closed since June of last year when the road was damaged by several rock falls. It has been undergoing repairs ever since.

The team was last month tasked with investigating all aspects of the toll road including the environmental process surrounding the records of decision, which have delayed the process and therefore the full rollout.

The team consists of officials from the provincial and national government with the support of financial, technical and legal advisors as well as independent auditors.

Sechane said the team's areas of review include among others assessing compliance by the provincial government and Entilini, as well as an assessment of risk allocation as set out in the private-public partnership agreement, in order to make recommendations on
reallocations that may take place.

"The review would also focus on toll revenues, traffic flows, an assessment of the financial transactions on the project to date and contract management processes and procedures."

Chapman's Peak Drive was meant to be self-sufficient, with funding for its maintenance coming from the revenues of two toll booths.

When construction of the toll booths was stopped over environmental objections, the province, as per prior agreement, agreed to pay Entilini an amount based on projected toll traffic.

In addition to this, Entilini has come under scrutiny with regards to the details of its Black Economic Empowerment (BEE) partnership.

It was reported that out the eight current active directors of Entilini Concession, only two technically meet BEE criteria.

 

Last modified on Thursday, 31 October 2013 19:59

Most Popular

Pam Golding Properties achieves record price of USD13.6m for sale of luxury home in Mauritius

Mar 12, 2024
Villa sold for USD13.6m Mauritius, patio & pool
The Mauritius office of Pam Golding Properties has sold a six-bedroom, luxury beachfront…

Simplified capital structure and operational performance delivers strong 1H2024 results for Fortress Real Estate Investments

Mar 12, 2024
Cornubia Ridge LP_March 2024
Fortress Real Estate Investments delivers strong 1H2024 results: Simplified capital…

Dipula and REO’s innovative approach to tenant installation for EOH grows a sustainable furniture initiative

Mar 12, 2024
Interior EOH in Montrose Place at Waterfall Park in Midrand 3
Dipula Income Fund’s new lease with EOH for the Montrose Place at Waterfall Park in…

Please publish modules in offcanvas position.