S.Africa’s water entity TCTA raises $1 bln for Lesotho project

PUBLISHED: Tue, 25 May 2021 12:39:14 GMT

CAPE TOWN, May 25 (Reuters) – South Africa’s state water entity 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 Trans-Caledon Tunnel Authority (TCTA) needed prior state guarantees from National Treasury before it could raise the private funding for a key project designed to improve water access to millions of people in South Africa’s economic heartland in Gauteng province. ($1 = 13.8226 rand) (Reporting by Wendell Roelf; editing by Mfuneko Toyana)

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