Sanral gets US$770 million for freeway project

South African National Roads Agency (2161 SANRAL) has received a bailout of over US$770 million from the government for its Gauteng Freeway Improvement Project (GFIP). The cash injection is a bailout for the electronic toll system which cost an estimated US$2.66 billion, much of it which still has to be paid for. The cash injection will enable tolls to pay for over 25 per cent of the cost of the project and enable the planned toll charges, due to be introduced on highways on 30 April, 2012 to be reduced by 25 per cent.