Reuters reports that SA's Trans-Caledon Tunnel Authority has raised just over R15bn in capital markets to continue construction of the Lesotho Highlands water project.
Under a global enforcement order, Frazer says that it has taken legal action to seize royalties that would be paid to Lesotho’s government by the Trans-Caledon Tunnel Authority as well as payments for power from Eskom.
SA s TCTA raises R15bn for Lesotho water project timeslive.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timeslive.co.za Daily Mail and Mail on Sunday newspapers.
SAâs TCTA raises R15 billion for Lesotho water project
By ANA Reporter
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CAPE TOWN - South Africa s Trans-Caledon Tunnel Authority (TCTA) has raised just over 15 billion rand ($1.09 billion) in capital markets to continue construction of the Lesotho Highlands water project, the minister of water and sanitation said on Tuesday.
The state-owned TCTA needed guarantees from the National Treasury before it could raise the private funding for the project which is designed to improve water access for millions of people in South Africa s economic heartland in Gauteng province. So, we have the resources, we have the guarantees and now we can assure you that we will be hard at work to provide water security, minister Lindiwe Sisulu told lawmakers.
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“So, we have the resources, we have the guarantees and now we can assure you that we will be hard at work to provide water security,” minister Lindiwe Sisulu told lawmakers.
In March the TCTA said delays by the treasury, which were due to tightening conditions for support for state-owned entities, were putting pressure on the TCTA as it looked to raise R33 billion in 2021.