R130bn worth of infrastructure projects underway

Around 90 integrated land development projects valued at more than R130 billion are currently underway around the country, Finance Minister Pravin Gordhan has revealed.

Among the most significant of these public-private partnerships, the “Corridors of Freedom” project, in Johannesburg, which connects Soweto, Alexandra, Sandton and the Johannesburg central business district, remains under development, and will usher in improvements to public transport and social amenities, while adjusting settlement densities.

In eThekwini, the Cornubia node comprises 25 000 housing units, while an inner-city regeneration programme is also underway, including projects at Bridge City, Centrum, the Point and the interconnecting corridor, the minister told Parliament yesterday.

In the Tembisa corridor, in Ekurhuleni, R6.5 billion in public investment is expected to leverage R8 billion in private sector investment to deliver housing, commercial and office facilities.

To the south, the N2 Gateway housing programme, in Cape Town, is continuing alongside the redevelopment of the Voortrekker Road Corridor, Conradie Hospital, the Athlone Power Station and other sites.

In Tshwane, investments are focused on the Mabopane Station Hub, which is considered the “gateway to the north” for more than 150 000 passengers a day and has an informal market accommodating some 2 500 traders.

In Bloemfontein, the R2.6 billion mixed-use Airport Development Node remains under construction, while an inner-city residential development is planned.

The city’s Vista Park and Brandkop projects are expected to yield over 8 500 housing units at a total development cost of over R1.9 billion, he noted during his 2016 National Budget speech.

To get a full analysis of Minister of Finance Pravin Gordhan’s budget speech, get your copy of The Citizen at your nearest news agent tomorrow.

Read full speech below:

Minister of Finance's full 2016 budget speech