R7bn infrastructure boost for Gauteng

IT'S BOOM TIME for infrastructure development in Gauteng with the creation of a new fund - the Gauteng Fund - for public infrastructure projects.

The government has put up R500 million for the fund, with the other R6.5 billion expected to come from private investors. This fund has already staged an international roadshow, which Percy Mthimkhulu, spokesman for the Department of Economic Development, says had "overwhelming interest" from private companies. Mthimkhulu explains the amount raised and the first project to be funded will only be announced once a local roadshow has ended.

The fund will finance projects in a wide range of industry sectors - such as health, telecommunications and transport - and across all levels of government.