Finance secured for South African infrastructure projects

15 March 2012

Over the next 12 months, as much as R2.8 billion could be spent in the province of Mpumalanga to make major infrastructure improvements, which could help to stimulate the local economy.

The new round of finance for these projects, which could be key to economic growth, was announced during the tabling of the province's 2012-13 budget earlier this week.

It has been confirmed that the money will be used for the construction of new roads, bridges and buildings, BuaNews has reported.

Some of the money, though, will also be used towards the maintenance of existing infrastructure.

"This investment will be an important driver towards economic growth and job creation in the province," commented Pinky Phosa, the Mpumalanga Provincial Government's minister for finance.

Meanwhile, Premier David Mabuza, Mpumalanga Provincial Government, added: "The aim is to strengthen infrastructure investment and maintenance because this is a key contribution to the underlying growth potential of our economy."

Category: General