The Trans-Caledon Tunnel Authority (TCTA) has increased the commercial paper programme for the Vaal River Eastern Subsystem Augmentation Project (Vresap) to R400-million.
Vresap comprises a 120-km pipeline from the Vaal dam to the Knoppiesfontein diversion structure, near Secunda, in Mpumalanga, to augment the Vaal river eastern subsystem.
The project is aimed at providing additional water to Eskom and Sasol’s facilities in the Mpumalanga region and yields an estimated 350-million cubic metres of water a year.
In November 2004, the then Water Affairs and Forestry Minister instructed TCTA to fund and implement the Vresap. As part of the funding programme, TCTA in 2006 registered an unlisted commercial paper programme.
In terms of the programme, TCTA has issued senior, unsecured bills, ranking with the project’s other debt, not exceeding R300-million.
This has now been increased by R100-million.