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Infrastructure projects worth R690bn in various development stages

According to The New Age Online, the government's massive infrastructure programme is on course with some of the projects already underway, with government saying it will spend R4 trillion in infrastructure rollout over the next 20 years with most of the projects driven by state-owned entities. Finance Minister Pravin Gordhan said during the medium term budget policy statement, that infrastructure spending was on track.

26 Oct 2012

Image courtesy of olovedog / FreeDigitalPhotos.net

Gordhan's deputy Nhlanhla Nene said the savings on infrastructure seem to have improved the quality of spending, as in the past there was a lot of under-spending in infrastructure. Nene called for effective spending on infrastructure development projects.

During the budget review, the National Treasury said that it had identified a number of projects -- including schools, hospitals, clinics and roads - worth R690bn that were already in various phases of development. These projects will be financed from the fiscus. The Treasury said some projects were "shovel ready." The New Age Online reports that Gordhan told Parliament the Presidential Infrastructure Coordinating Committee (Picc) has identified 18 projects.

Read the full article on www.thenewage.co.za.