Building of R10b Winelands toll road to start 2012

Posted On Friday, 08 October 2010 02:00 Published by eProp Commercial Property News
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Sanral said that the tender for the construction of the Winelands toll highway in the Western Cape, will commence in 2012.

Road InfrastructureThe South African National Roads Agency Limited (Sanral) said on Friday the tender for the construction of the Winelands toll highway in the Western Cape will close next month, confirming that the actual construction will commence in 2012.

SANRAL CEO Nazir Alli said the N1-N2 Winelands project, stretching 150 kilometres, is values at around 10 billion rand.

Alli said the preferred bidders and the ultimate winning concession will be announced in 2011.

He added that the project will be funded through bank finance and not through bonds.

The roads agency has spent 23.7 billion rand, raised through bonds, to fund and expand toll roads, especially the Gauteng Freeway Improvement Project, its single largest project.

During the financial year 2009-2010, the state-owned agency raised 6.83 billion rand under its domestic medium term note programme, initially through the issue of non-guaranteed bonds and later by tapping the capital market with government guaranteed bonds.

Alli said the company will invite banks to tender for the financing of the project, noting that it will be cheaper to do so.

The proposed concession route along the N1 extends from just west of the R300 through to Sandhills, and the N2 portion of the proposed toll road concession extends from just west of the R300 to Bot River.

 

Last modified on Wednesday, 30 October 2013 08:47

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