Passenger rail gets R5bn further funding
Passenger Rail Agency of SA (Prasa), operator of commuter rail service Metrorail, has been allocated an additional R5bn in the 2012/13 fiscal year.
The agency will use R4bn to buy new coaches, while R1bn will be used to build three depots and upgrade signalling in Gauteng, KwaZulu-Natal and the Western Cape, Finance Minister Pravin Gordhan said on Wednesday during his budget speech.
Prasa, which also consists of SA Rail Commuter Corporation, Shosholoza Meyl and Translux, is embarking on a 20-year programme to invest in new rail rolling stock at an estimated cost of R136bn.
The investment was motivated by aging rolling stock (at an average of 36 years) and nearing the end of its life as well as increasing passenger numbers.
The budget for transport, energy and communication services increases from R84bn in 2012/13 to R98bn in 2014/15, rising by an annual average of 8.4%.
Source: I-Net Bridge
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