The Trans-Caledon Tunnel Authority (TCTA) has increased the commercial paper programme for the Vaal River Eastern Subsystem Augmentation Project (Vresap) to R500-million.
Vresap comprises a 120 km pipeline from the Vaal dam to the Knoppiesfontein diversion structure near Secunda to augment the Vaal River Eastern Subsystem.
The purpose of the project is to provide additional water to State-owned power utility Eskom and chemicals and energy group Sasol’s facilities in the Mpumalanga Highveld region.
The project yields an estimated 350-million cubic meters of water a year.
In terms of the paper programme, TCTA has, from time to time, issued senior, unsecured bills, ranking with the project’s other debt, not exceeding R400-million.
This has now been increased by R100-million to R500-million.