Public Works and Infrastructure Minister Dean Macpherson has welcomed President Cyril Ramaphosa's State of the Nation Address (SONA) delivered on Thursday night.
"The Minister of Public Works and Infrastructure, Dean Macpherson, welcomes the commitments made by President Cyril Ramaphosa during his State of the Nation Address (SONA) on Thursday evening, to realise efforts to turn South Africa into a construction site," the Ministry of Public Works and Infrastructure said.
Among the key announcements made by President Ramaphosa, is to attract at least R100 billion in private-sector investment towards infrastructure financing to get more cranes in the sky and shovels in the ground.
In his address, the President said government is engaging "local and international financial institutions and investors to unlock R 100 billion in infrastructure financing" and that a project preparation bid window has been launched to fast-track investment readiness.
The President also announced that government will spend more than R940 billion on infrastructure over the next three years.
Additionally, the President said government is "working with international partners, [and] we are revitalising small harbours, unlocking economic opportunities for coastal communities."
This also includes revised regulations for public private partnerships (PPPs), which will unlock private sector expertise and funds.
"We welcome the President's public support for the work we have been doing in the Department of Public Works and Infrastructure to turn South Africa into a construction site, which will undoubtedly help us grow the economy and create much-needed jobs.
"His support for the work we have done with the National Treasury to reform PPP regulations will go a long way in attracting additional infrastructure financing, in line with our commitment to secure an additional R100 billion in infrastructure investment over the next four years," said Macpherson.
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"Furthermore, the President's endorsement of our efforts to revitalise small harbours such as the Hout Bay small harbour, which falls under the Department of Public Works and Infrastructure will ensure that these harbours meaningfully contribute to the communities in which they are located. This will help stimulate local economies and create jobs," the Minister said.
Following the SONA, Minister Macpherson will outline more details on the department's infrastructure plan when he replies to the SONA next week.
"As the Department of Public Works and Infrastructure, we remain fully committed to meaningfully contributing to President Ramaphosa's vision of increasing South Africa's economic growth to above 3%, which will undoubtedly lead to job creation. The Government of National Unity truly represents renewed hope for South Africa's future, and by working together, we are building a better country," said the Ministry.
Thursday's SONA will be followed by a two-day debate, next week.
