Highway collusion mess and e-tolls

[DJ...]

Just something that came to mind when I read this, was there not something in the budget or somewhere where the government contributed/paid R5bn towards SANRAL for one or other reason. I'm sure I remember Pravin saying something like this, think in his budget speech....

Or I have already had to much wine today.....

Edit: Sorry, see it has been mentioned, should maybe read allllll theeee wayyyy....

Well perhaps they accounted for it before releasing their financial statements. It would confirm my calculations of their debt, and therefore also confirm my overall calculations as well...

 

[j4ck455]

[highlight]Lies, lies, and more lies. In 2006 they estimated the cost for 359km of road at R6.3bn. In 2008, the estimated cost for just 185km had increased to R14.3bn. We subsequently know that this has increased substantially yet again. For them to say that they were unaware of costs is just a lie - they were monitoring it throughout the process, they simply didn't perform any of the requisite fiduciary and oversight duties required of them, or they were working together with the construction companies to inflate the prices.[/highlight]

Also remember that these prices do not include the cost of capital. I have been looking over their books and their existing bond issuances, and I calculate their total debt obligation as of 2013 at R41bn, not R36bn as per their financial statements unless they have been repaying even more of their principle debt without revenue - somehow - by magic...

of course SANRAL wont pass on any recovery to road users and the recovery wont cover the financing costs - because the construction companies didn't tell SANRAL to take on expensive credit

For both of you and an idea for a resurrected OUTA and any persons or parties capable of weathering the political **** storm that would undoubtedly follow.

What if criminal charges were laid against SANRAL (which is an SoC) and Nazi Alli et al for contravening the PFMA and any other applicable legislation related to tender fraud?