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Saice calls for effective infrastructure spend

19th July 2019

By: Tasneem Bulbulia

Deputy Editor Online

     

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The South African Institution of Civil Engineering (Saice) has welcomed President Cyril Ramaphosa’s announcement that the State has set aside R100-billion to start an infrastructure fund to be administered by the State-owned Development Bank of Southern Africa.

During his June 20 State of the Nation Address, Ramaphosa said the Department of Public Works and Infrastructure would oversee the infrastructure fund.

He also confirmed that the State was launching the fund in consultation with private investors, such as pension funds.

“These reforms will ensure better planning of infrastructure projects, rigorous feasibility and preparatory work, improved strategic management, impeccable execution and better governance,” Ramaphosa said at the time.

Commenting on the announcement, Saice acting CEO Steven Kaplan said the organisation hoped the fund would provide a much-needed boost to the depressed construction sector.

“We hope this funding will be entrusted [to] those who have the technical expertise and experience that will translate it into a positive turnaround for the industry and the economy,” he said.

Edited by Riaan de Lange

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