| Thu 27 Oct 2011, 11:49 | | BINRA - South African National Roads Agency Soc Limited - Statement |
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JSE
BINRA
BINRA - South African National Roads Agency Soc Limited - Statement
regarding the funding of the national road network
SOUTH AFRICAN NATIONAL ROADS AGENCY SOC LIMITED
("SANRAL")
Incorporated in the Republic of South Africa)
(Registration number 1998/009584/06)
Bond Codes: HWAY20, HWAY23, HWAY24, HWAY34, HWAY35, NRA013, NRA014,
NRA018, NRA022, NRA023, NRA028, SZ18, SZ25
ISINs: ZAG000070301, ZAG000075862, ZAG000079153, ZAG000070319,
ZAG000079161, ZAG000055971, ZAG000059429, ZAG000056003, ZAG000055989,
ZAG000059437, ZAG000055997, ZAG000016148, ZAG000020686
STATEMENT REGARDING THE FUNDING OF THE NATIONAL ROAD NETWORK
The following is a statement made by SANRAL in relation to the funding
of the national road network
"The South African National Roads Agency SOC Limited (SANRAL), is
responsible for the proclaimed national road network of 16 170km
including 8000 large bridges and culverts. There are two parts to
SANRAL`s business of which toll roads account for less than 20% of the
road network.
We welcome the statement from our Minister, the Minister of Transport
which clarifies the situation and the leadership he has provided in what
is a challenging situation with respect to the funding of the national
road network of South Africa. The challenge is to ensure that the
arteries of the economy are well maintained and adequately funded. We
are sure that under the leadership of the Minister that a sustainable
solution will be found that will ensure that the appropriate financial
instrument will be appropriately applied. Where the user-pay principle
is found to be the appropriate instrument it will be selectively used in
the expansion and upgrading of the national road network.
SANRAL is an implementing arm of the Department of Transport and will
continue to implement the policies of Government to the best of its
abilities. As indicated by the Minister of Transport, GFIP - phase 1
will continue as planned with the system going live in February 2012.
SANRAL will continue to serve the interest of the economy and focus on
the creation of quality jobs and the development of our communities. We
look forward, together with our Minister, to finding an appropriate
solution in respect to the challenges of adequate funding for South
Africa`s road infrastructure."
Enquiries should be directed to:
Inge Mulder 012 844 8008 mulderi@nra.co.za
Pretoria
27 October 2011
Debt Sponsor
Absa Capital (the investment banking division of Absa Bank Limited and
affiliated with Barclays Capital)
Date: 27/10/2011 11:49:01 Produced by the JSE SENS Department.
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