GAUTRAIN RAPID RAIL LINK PPP - Africa Regional PPP Conference 14-15 November 2011 - IFC
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GAUTRAIN RAPID RAIL LINK
PPP
Africa Regional PPP Conference
14-15 November 2011
HISTORY OF THE PROJECT
Gautrain Management Agency
• The Gautrain Rapid Rail Link Project is a transport infrastructure
project, developed, operated and maintained through a Public-
Private Partnership agreement, signed with Bombela
Concession Company, on the 28th of September 2006;
• It is the first modern, ‘state-of-the-art’ Rapid Rail Link transport
project for Africa, consisting of approximately 80km of railway
line, 10 stations, and approximately 125 buses in its dedicated
feeder and distribution system;
• It is expected that the system will transport approximately
100,000 passengers per day when fully operational. It is
anticipated to become fully operational before the end of March
2012.
• The Project has two distinct phases:-
- PHASE I: 5 Year Development Period (2006 to 2011)
- PHASE II: 15 Year Operational Period (2011 - 2027)
SOURCES OF FUNDING
SOURCES OF FUNDING
• The South African National Government undertook to fund 50%
of the total development costs of the project (R12.4 bn), 100% of
the foreign exchange variances incurred on the foreign
component of construction milestone payments, and 50% of the
inflation related increases on the rand component of
construction costs, through the granting of a DoRA Conditional
Grant. (specific purpose grant)
• The remainder of the development costs have been funded
through, amongst others:
– MTEF Provincial Grant Funding (25%)
– Provincial borrowings (18%)
– Private Sector Equity (2%)
– Private Sector Borrowings (9%)
PROJECT COSTS
PROJECT COSTS – APPLICATION OF FUNDS • In September 2011, the Gautrain Project reached the end of its 60th month (20th quarter) of development. • The Independent Certifier certified the achievement of 996 of the 1042 interim payment Schedule 12 milestones (96% of the number of milestones). • At the end of the last financial year, the total project expenditure incurred to date, in the following categories, were: Category Expenditure to Date Schedule 12 Milestones R 25.7 bn (Construction costs) Variations and related costs R 200 m Operational & Support Costs R 2.2 bn TOTAL COSTS R 28.1 bn
PROFITABILITY & EQUITY
DISTRIBUTION
EQUITY DISTRIBUTION & CONSTRAINTS
Equity Distributions and Constraints
1 600 000
1 400 000
1 200 000
1 000 000
800 000
Zar' 000s
600 000
400 000
200 000
0
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
(200 000)
(400 000)
Dividend Declared Total Shareholder Loan Stock Servicing
Loan Stock Cash Sweep Retained Income/(Accumulated Loss)
Cash Available to Pay Dividends and STC Profit/(Loss) Attributable to ShareholdersSOCIO-ECONOMIC DEVELOPMENT
SOCIO-ECONOMIC DEVELOPMENT PERFORMANCE • The Gautrain’s measurable objectives are linked to its overall strategic objectives, one of which is the contribution to accelerated economic growth, with an emphasis on job creation, local skills development, and investment in black economic empowerment. • The Concessionaire is contractually obliged to achieve against SED obligations through 21 SED elements included in the CA. • The cumulative performance of the Concessionaire up to the end of the 20th quarter is shown in the table below:
SOCIO-ECONOMIC DEVELOPMENT: PROGRESS
Verified % Compliance
SED01:Shares held by BEEs/ Black Persons 100%
SED02:Shares held by Black Women 119%
SED03:Procurement from BEEs/ Black Persons 169%
SED04:Sub-contracting to BEE 221%
SED05:Procurement & sub-contracting to New BEE 197%
SED06:Procurement & sub-contracting to SMMEs 447%
SED08:Employment of Local People 178%
SED09:Procurement of RSA Materials 184%
SED10:Procurement of RSA Plant & Equipment 167%
SED11:HDI staff seconded by SPG 181%
SED12:Expenditure by SPG on Plant & and Equipment 124%
SED13:Procurement from, or Sub-contracting to SPG 212%
EEP01:HDIs in Management Positions 255%
EEP02:Women in Management Positions 397%
EEP07:HDIs in Occupational Level C 362%
EEP03:HDIs employed 215%
EEP04:Women employed 261%
EEP05:People with Disabilities employed 132%
EEP06:Expenditure on Human Resource Development 110%
EEP08(a): Women trained & mentored 97%
EEP08(b):Women Learners employed & mentored 157%
0% 50% 100% 150% 200% 250% 300% 350% 400% 450% 500%PUBLIC TRANSPORT INTEGRATION
INTEGRATION PROGRESS
• Various applications for developments around stations have been
submitted to municipalities. This will lead to densification of land use
around the stations.
• The DFDS services supporting the system operation, currently around
9 stations has linked major commercial and residential nodes in
Gauteng.
• Development around the stations, which is in progress, will support
physical integration and convenient transfers to/ from adjacent PRASA
(metro-rail) stations.
• Planning of physical interfaces between Gautrain stations and Rea
Vaya bus stations in close proximity to stations have been completed.
Rea Vaya will play a role in distributing Gautrain passengers to the JHB
CBD, and the north-western suburbs.
• Development of a public transport interchange including a major taxi
rank, on top of Sandton Station, is complete.
• A taxi-owned company, Alexandra Transport Solutions, has been
contracted to operate a shuttle service comprising 2 mini-bus taxis
from the Marlboro Station into Linbro Park. Shuttle services are
planned to be rolled out at other stations, supporting integration.Thank You www.gautrain.co.za 0800-Gautrain
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