Financial Institution Nedbank Corporate and Investment Banking has finalized a R4.5 billion term loan facility to the state-owned Trans-Caledon Tunnel Authority (TCTA) for the Mokolo-Crocodile River Water Augmentation Project Phase 2A (MCWAP-2A) project.
The MCWAP-2A project involves the construction of an abstraction weir, pump stations and a 160km pipeline to transport water from the Crocodile River to Lephalale, Limpopo Province.
“We understand that access to water is a constitutional right, and this transaction is an example of how we support the government in ensuring the availability and sustainable management of water and sanitation for all,” Sector Lead of State-Owned Companies at Nedbank Corporate and Investment Banking Phuti Mokwatedi said.
Upon completion, the project will produce 75 million m3 of water per year benefitting state-owned Eskom’s local power plants, mining company Exxaro’s mining operations and local municipalities’ water supplies.
