Capital expenditure by the country’s major state-owned enterprises (SOEs) is expected to reach R382 billion over the next three financial years.<\/p>\n
“Investments by Eskom, Transnet and the SA National Roads Agency Limited [Sanral] account for 90 percent of this amount,” according to 2014 Budget Review, tabled by Finance Minister Pravin Gordhan on Wednesday.<\/p>\n
The SOEs play a major role in government’s public infrastructure investments, which would reach R847bn over the next three years.<\/p>\n
In his budget speech, Gordhan said: “The first unit of the Medupi power station is expected to be completed by the end of this year.”<\/p>\n
Investment in the country’s rail services would also be boosted.<\/p>\n
While Transnet was planning to increase capacity on its coal, manganese and iron ore lines, investment in commuter rail services would continue to be steadily expanded.<\/p>\n
“The Passenger Rail Agency of South Africa (Prasa) refurbished 500 Metrorail coaches last year, and its new rolling stock procurement programme will get underway this year,” Gordhan said.<\/p>\n
The performance levels of SOEs when it came to delivering on infrastructure commitments was improving.<\/p>\n
In 2012\/13, SOEs spent close to 80 percent of their budgeted funds, compared to 70 percent the previous year.<\/p>\n
The public enterprises department will get R259 million to monitor and oversee the SOEs.<\/p>\n
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