SANRAL gets downgraded

QuintonB

QuintonB

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SANRAL ratings downgraded

Moody’s has downgraded SANRAL’s ratings on the backdrop of the recent High Court ruling to block the implementation of the e-toll system.
 
I hope they go bank before thee-toll starts. People should refuse to register and refuse to pay!
 
YAY!! Now all those jobs that going to get cut can finally get a decent job :p.
 
I remember Sbu in Parliament stating that over 800 000 e-tags had been registered and this showed an overwhelming support for the e-toll system.

Today I hear Jimmy Manyi proclaim that almost 500 000 e-tags have been registered and because of this SANRAL still has a very positive outlook.

Hmmm... I wonder if they ever sit together and just get their story straight.

Downgraded is I am sure what Mr. Manyi meant by positive outlook.

Let the closer scrutiny begin... out damned spots... be out.
 
I might not understand this properly but here goes :)

So the project was R20 billion, government invested R17 billion of Government Employees pension fund and then Government gave SANRAL R5.75 billion so that the per KM price could come down....

So it cost R20 billion, they got R22.75 billion and now they being downgraded as they won't be able to pay back dept....

I don't understand what is going on :-/
 
We keep hearing that SANRAL's G.R.I.P. project has cost R20 billion including all the gantries and other tolling crap.

I seem to recall a figure of about R6 billion being mentioned for the actual road improvements, does anyone have factual confirmation of the amount of money spent on improving the roads that SANRAL wants to toll?

FYI SANRAL, you cannot call your project the Gauteng Freeway Improvement Project when you turn the free to use roads into pay through your rear end roads.
 
j4ck455 said:
We keep hearing that SANRAL's G.R.I.P. project has cost R20 billion including all the gantries and other tolling crap.

I seem to recall a figure of about R6 billion being mentioned for the actual road improvements, does anyone have factual confirmation of the amount of money spent on improving the roads that SANRAL wants to toll?

FYI SANRAL, you cannot call your project the Gauteng Freeway Improvement Project when you turn the free to use roads into pay through your rear end roads.
Click to expand...

Or when they're not actually improved.
 
j4ck455 said:
We keep hearing that SANRAL's G.R.I.P. project has cost R20 billion including all the gantries and other tolling crap.

I seem to recall a figure of about R6 billion being mentioned for the actual road improvements, does anyone have factual confirmation of the amount of money spent on improving the roads that SANRAL wants to toll?

FYI SANRAL, you cannot call your project the Gauteng Freeway Improvement Project when you turn the free to use roads into pay through your rear end roads.
Click to expand...

1 - SANRAL refuse to disclose the full spend. That now forms a part of the court case and they have to turn that information over. Eventually the truth will come out. We know however that the MTN programme was worth around R30bn and was fully subscribed, and that was intended for 500 odd kilometres - not the paltry hundred or so that they've managed to complete to date. So something definitely doesn't add up...

2 - the roads haven't been improved. Work was done, yes. But I haven't experienced any improvements at all...

3 - they're still busy with the majority of the east rand. In other words, 30% of the entire project is not complete. And yet they wanted to start tolling already...
 
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