Question NW307 to the Minister of Transport
06 August 2019 - NW307
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