The South African National Roads Agency had received a R1.37 billion from the European Investment Bank (EIB). In a statement released today, the Bank said the loan would be used to upgrade and extend two key toll roads in the north of the country.
The Bank says the projects are of strategic importance to South Africa’s transport infrastructure, and are part of an ongoing programme by the national authorities to upgrade and extend the road network. It says the planned improvements and extensions will contribute to enhanced economic competitiveness as a result of reduced transportation costs and travel times.
The loan was signed today at the EIB headquarters in Luxembourg. The Bank’s Vice President Plutarchos Sakellaris said this was the third loan the Bank had signed with South Africa, also saying the EIB is delighted to support the upgrade of key toll roads. According to Sakellaris, the project is exactly in line with their objective of supporting economic growth in South Africa through the promotion of improved public infrastructure.
He says he is convinced that the project will fulfill its intended goals and is confident that it will be well implemented and managed. The EIB funding would be used to support the upgrade and widening of 30km of the R21 highway linking Pretoria and the OR Tambo International Airport, as well as improvements to over 160km between Springs and Ermelo on the N17 highway which links Johannesburg and Swaziland.
The EIB says the road enhancement schemes will bring significant safety benefits as a result of improved road alignment, the construction of emergency lanes and grade separated junctions. It says the project also has a strong social component as it will help to develop less advanced regions and create direct and indirect employment opportunities during the construction and management stages. – Sapa
[ This guy is unfortunately not fishing on a National Road, and this hole would have to be repaired by the local muncipality…!]