Manuel: Infrastructure spending to grow strongly

DONWALD PRESSLY CAPE TOWN - Feb 23 2005 14:03

Total expenditure, excluding interest costs and a contingency reserve, rises from R363-billion in 2005/06 to R428-billion by the end of the medium term expenditure framework period in 2007/08, South African Finance Minister Trevor Manuel said on Wednesday.

Manuel, who delivered his Budget speech in Parliament, said these projections allowed an additional R74,4-billion to be added to the baseline allocations of national departments, provinces and municipalities over the next three years.

"Consolidated real non-interest expenditure will grow at 7,5% next year and an average of 5% over the MTEF period," said Manuel.

Total expenditure in the last financial year 2004/05 ran at R321-billion, up from R282-billion in 2003/04.

Manuel noted that infrastructure spending was expected to grow strongly "over the years ahead, complemented by rising spending on public assets through public-private partnerships of various kinds".

Manuel said "significant" projects include:

Completion of the Port of Ngqura (in Coega near Port Elizabeth);

The Berg River Water Scheme in the Western Cape and further development of the Olifants River and Groot Letaba River dam systems in Mpumalanga;

Recommissioning of the Camden, Komati and Grootvlei power plants and upgrading of the Matimba plant;

Construction of a hydroelectric pumped storage scheme at Braamhoek and two coastal gas turbine plants;

Investment of about R27-billion in electricity transmission and distribution networks over the next five years;

Building of a demonstration plant by the Pebble Bed Modular Reactor company;

Transnet's R4,9-billion locomotive and wagon fleet renewal and modernisation programme;

Upgrading of the Coallink line to Richard's Bay and the Sishen-Saldanha link;

A new container terminal for Durban and port capacity expansion in Cape Town, Richard's Bay and Saldanha;

The building a new multi-purpose Durban-Johannesburg-Pretoria fuel product pipeline.

Manuel noted that the contingency reserve and allocated funds for transport infrastructure in the MTEF proposals for the next three years "allow for additional allocations to critical infrastructure investment projects in the Adjustments Budget where project planning is well advanced and business plans have been approved". â€“ I-Net Bridge

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