By Reuters Staff
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CAPE TOWN, May 25 (Reuters) - South Africa’s Trans-Caledon Tunnel Authority (TCTA) has raised just over 15 billion rand ($1.09 billion) in capital markets to continue construction of the Lesotho Highlands water project, the minister of water and sanitation said on Tuesday.
The state-owned TCTA needed guarantees from the National Treasury before it could raise the private funding for the project which is designed to improve water access for millions of people in South Africa’s economic heartland in Gauteng province.
“So, we have the resources, we have the guarantees and now we can assure you that we will be hard at work to provide water security,” minister Lindiwe Sisulu told lawmakers.