Sanral to get R27bn from fiscus for nontoll-road network
The national fiscus would provide some R1.4-billion to the South African National Roads Agency Limited (Sanral) over the medium term to plug the gap of the lowered e-toll fees on some of Gauteng’s highways and ensure the parastatal serviced its debt commitment.
Following the adjusted tariffs last year after a review of the costs of e-tolls on the first phase of the Gauteng Freeway Improvement Project (GFIP), the National Treasury said in the 2016 Budget that it would allocate the funds to supplement the now-short revenue from the unpopular system.
During the 2014/15 financial year, Sanral recorded an 82% year-on-year increase in revenue to R11.7-billion – with R5.4-billion received from government transfers and R6.3-billion from toll operations.
The GFIP generated revenue of R3.8-billion. Sanral’s performance was now expected to stabilise following the resolution of policy uncertainty concerning e-tolls, the Budget Review assured.
Under the 2016 Budget tabled by Finance Minister Pravin Gordhan in Parliament on Wednesday, R27.4-billion had been allocated over the medium term to strengthen and improve the national nontoll-road network.
“At present, over 75% of this network is beyond its 25-year design life and is in need of refurbishment,” Gordhan highlighted in the 2016 Budget Review.
Tolled roads made up 15% of the 21 403 km road network, while the remaining 85% was financed through allocations from government.
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