Question NW307 to the Minister of Transport

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06 August 2019 - NW307

Profile picture: Hunsinger, Mr CH

Hunsinger, Mr CH to ask the Minister of Transport

(a) What are the reasons for the decrease in the budget of the Gauteng Freeway Improvement Project from R6,3 billion in 2018-19 to R550,5 million in 2019-20, (b) which loans have become due for repayment in the past three years, (c) which loans will be due for payment in the next three years and (d) what was the division between toll and non-toll budget allocations in the past three years in total for the (i) capital and (ii) maintenance expenditure?

Reply:

a) The decrease from R6.3billion to R550.5 million, represents the decrease in the allocation from the fiscus to the project. In 2018/19 a special allocation of R5.75 billion was made due to the funding shortfall created by the non-payment of etoll. This amount was originally earmarked for non-toll roads, but was later un-earmarked and allocated to toll, to prevent a default on SANRALs bonds. The R550.5m is a normal fiscal allocation to SANRAL since the new dispensation in 2015.

b) The bonds which matured in the last three financial years (2017, 2018 and 2019) are as follows:

BOND

DATE MATURED

NOMINAL VALUE

NRA 018

30 Nov 2018

R2 386 500 309

PN001

6 February 2019

R510 000 000

PN002

21 February 2019

R550 000 000

PN003

28 March 2019

R164 000 000

c) the bonds which will be maturing in the next three financial years (2020, 2021 and 2022) are as follows:

BOND

DATE MATURING

NOMINAL VALUE

HWF08

15 July 2019

R1 000 000 000

HWF09

19 September 2019

R700 000 000

HWF10U

30 September 2019

R700 000 000

PN004

6 February 2020

R556 000 000

PN005

21 February 2020

R640 000 000

HWAY20

31 July 2020

R6 744 618 477

d) Toll and Non-toll budget for the past three years

See the link: http://pmg-assets.s3-website-eu-west-1.amazonaws.com/RNW307TollNonToll.pdf

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