Gauteng sells infrastructure projects to private sector

17 July 2015 - 02:10 By Penwell Dlamini

Gauteng has started putting down the building blocks of its massive infrastructure investment programme by bringing in the private sector as a key player in helping develop the province. The business community was treated yesterday to an exhibition at Gallagher Estate in Midrand of all the infrastructure projects the Gauteng government is envisaging over the next 15 years.Prototypes of projects such as the Vaal River City in the Vaal Triangle, the Kopanong Precinct in the Johannesburg inner city and information technology development to be built in Nasrec were on display. Gauteng also showed its prototype for public schools, which could be viewed in 3D.The conference, attended by more than 1000 business people, was hosted by Premier David Makhura and his executive to provide a vision of the province's infrastructure investment until 2030.Financial institutions, property developers and entrepreneurs were given insight into where the province sees potential for growth.Makhura told delegates that Gauteng, the country's economic hub, needed a lot of infrastructure investment to keep up with growing demand for services.He said studies showed that the province needed at least R1.6-trillion over the next 15 years in investment. The private sector had to come on board for this investment to become a reality, he said."Most investable capital is in the hands of the private sector and it is important to work closely with businesses to unlock this and direct it towards building the infrastructure for our common good."Leon Campher, CEO of the Association for Savings and Investment SA, said there was R8.8-trillion in investment in the country's economy, but not all infrastructure could be funded through savings."Some of the infrastructure can never be funded by savers because there is no return. For that, the government has to borrow," he said...

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