CT signs R1.3bn loan with German bank to upgrade wastewater treatment plants
The City of Cape Town recently signed an urban wastewater management loan with the German government-owned KfW Development Bank to the value of approximately R1.3bn. The loan, offered at a fixed interest rate of 8.107%, will be used to finance the expansion and refurbishment of some of the city's 25 wastewater treatment plants over the next few years.
This unsecured loan is payable over 15 years to spread the related costs over the lifetime of the wastewater projects. Earmarked wastewater treatment plant projects include: Zandvliet, Cape Flats, Bellville, Macassar, Potsdam, Melkbosstrand, Mitchells Plain, Borchard’s Quarry, Hout Bay, Scottsdene, Wildevoevlei and Gordon’s Bay.
"Cape Town is a growing city and it is important that we are able to sufficiently invest in infrastructure, the diversification of resources and the reliable provision of water services over the coming years as we build our resilience. We thank KfW for approaching the city with this offer and for their confidence in the overall management and governance of the city," said executive mayor of Cape Town Dan Plato.
