logo |

News

    Home   >     Industry    >     Main body

    South Africas Rail Expansion Plan Links Soweto to Johannesburg

    Abstract:South Africas only high-speed rail network is drawing up a multibillion rand plan to expand outside Johannesburg and Pretoria, joining a potential bonanza of infrastructure projects the government says are key to reviving the economy.

      South Africas only high-speed rail network is drawing up a multibillion rand plan to expand outside Johannesburg and Pretoria, joining a potential bonanza of infrastructure projects the government says are key to reviving the economy.

      A proposal for the venture is awaiting sign-off by the National Treasury, William Dachs, chief executive officer of the Gautrain company, said in an interview. Investment and loans would come from a mix of private investors and state institutions such as the Development Bank of Southern Africa, he said.

      “Cities that do not plan around public transport suffer great financial and economic consequences,” said Dachs.

      South African President Cyril Ramaphosa has placed infrastructure at the heart of his plan to revive an economy devastated by the coronavirus pandemic, under-investment and corruption. He sees the government spending 100 billion rand ($6.2 billion) on various projects, with the aim of attracting 10 times as much private investment within four years. His plans include the privatization of some older railway systems and routes, which have struggled with years of mismanagement, vandalism and theft.

      The Gautrain expansion would add a further 150 kilometers (93 miles) of track to the existing 80-kilometer network, connecting more remote destinations such as Soweto, which has a population of about 2 million people. The township was separated from Johannesburg during the apartheid era, when the White-minority government created settlements for Black people away from major cities and places of employment, while failing to provide adequate public transport.

    Read More
    • Ramaphosa Outlines Plan to Spur South African Recovery
    • South Africa‘s Track Record Bodes Ill for Investment Drive
    • South Africa’s Long Road Back From Meltdown

      Ramaphosa‘s infrastructure initiatives -- including the Gautrain expansion -- would help to ease South Africa’s chronic unemployment problem. The number of people with jobs in South Africa fell to the lowest in nine years in the second quarter, while more than 20 million people are classed as economically inactive.

      {16}

      The Gautrain, whose operator has shareholders including French rail group RATP Dev, was built as part of South Africas preparations to host the 2010 soccer World Cup.

      {16}

      The transport system has an excellent punctuality record and minimal security incidents, according to Dachs. Every rand the government has invested in the group has made a return of at least double, he said. The rail company is named after Gauteng province and the name translates as ‘golden train,’ a reference to Johannesburgs 19th century origins as a gold-mining town.

    Latest News

    Australia Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    Australia Dollar
    Available
    -- United States Dollar
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click "Complaints "and "Correction" to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.