Latest news with #InfrastructureFund
Zawya
18-07-2025
- Business
- Zawya
South Africa: Govt commits over $56bln to infrastructure investment
Government is following through on its commitment to invest more than R1tn in infrastructure over the next three years to renew the country's roads, port, rail, energy and water systems. This is according to President Cyril Ramaphosa who presented The Presidency Budget Vote for the 2025/2026 financial year in the National Assembly in Parliament on Wednesday. The Budget Vote focused on the 7th administration's three strategic priorities, including promoting inclusive growth, job creation, tackling poverty and the high cost of living, and building a capable, ethical, and developmental state. 'South Africans benefit when the economy grows, when jobs are created, when established industries expand and new industries emerge,' the President said. Infrastructure Fund The President emphasised that government is hard at work to boost infrastructure investment to ensure that infrastructure development becomes the 'true flywheel of economic growth'. Through the Infrastructure Fund, he said government is investing in the roads that link communities to economic centres and the water projects that supply expanding cities and towns. 'We have amended the regulations for Public Private Partnerships to make it easier for the private sector to invest in infrastructure ranging from renewable energy generation to housing. 'This infrastructure has a direct impact on people's lives, providing the services they need, reducing the cost of living, improving the business environment and encouraging economic activity,' the President said. President Ramaphosa noted that the country continues to face high levels of unemployment and economic growth that is too low to create jobs and reduce poverty. In addition, the country faces the corrosive effects of corruption and pervasive crime, to which the poorest are most vulnerable. 'It is with these challenges in mind that we formed a Government of National Unity (GNU) to place our country on a path of growth and transformation, a path of peace and prosperity. 'As we established the GNU, we understood that we were embarking on a new era in the life of our democracy. We understood that there would be complex dynamics and novel challenges that we would need to navigate,' he said. Medium-Term Development Plan The President highlighted that the GNU adopted the Medium-Term Development Plan (MTDP), which outlines clear actions that will be undertaken over the next five years in pursuit of three strategic priorities. 'Across all ministries, all departments and all national entities, there is a commitment to implement the actions on which we have agreed and to move with urgency and purpose to address the needs of South Africans. 'Most importantly, there is a shared understanding that we need to rise above our differences and to work together to make progress on our most important challenges,' the President said. The President explained that the approach of the Government of National Unity is to enhance national cohesion and nation building and to build partnerships across society to advance the common interests of all South Africans. National Dialogue He said the National Dialogue is being convened in response to calls from individuals and formations from across society. The initiative has received wide support and has been endorsed by the GNU as a significant national process to develop a social compact that will enable the country to meet the aspirations of the National Development Plan. 'We are all called upon to use this National Dialogue as an instrument of development, transformation, progress, national cohesion and nation building. The National Dialogue does not displace the democratic processes mandated by our Constitution, nor the electoral mandates that parties carry into Parliament and the Executive,' he said. As the National dialogue process continues, the President said the GNU will continue to take action to address the immediate concerns that all South Africans share – to grow the economy, to create jobs, to tackle corruption and crime, and to fix local government. 'Everything that this government does – from trade negotiations to economic reforms, from the professionalisation of the public service to support for farmers and small businesses – is directed towards meeting the needs of South Africa's people and securing their future. 'The role of the Presidency is to coordinate the work of government towards this end, and to make sure that our commitments are translated into action. Our most important priority is to grow the economy and create jobs,' President Ramaphosa said. Improving administration The President added that efforts to improve visa administration, digital payments, tourism, and industrial diversification would unlock growth and investment. 'We are pursuing the Critical Minerals and Metals Strategy recently approved by Cabinet to ensure that the country's mineral wealth creates jobs and produces value here in South Africa,' the President said. New sector development The development of new sectors was also a key focus. 'Our National Policy on the Commercialisation of Hemp and Cannabis aims to improve the livelihoods of people living in rural areas, targeting 10% annual growth in this emerging industry,' he said. Highlighting tourism's recovery, he noted that over 9 million international tourists visited South Africa last year, spending more than R90bn. 'This is thanks in large part to reforms in our visa system, targeted tourism promotion in key markets and support to local companies,' he said. President Ramaphosa reaffirmed that the Presidency continues to lead implementation of economic reforms through Operation Vulindlela. Energy sector In the energy sector, working together with all stakeholders, the President noted outstanding progress in reducing the severity and frequency of load shedding. 'There was a time when daily load shedding was the norm. Now, it is very much the exception," he said. He said government is putting in place the foundations for a competitive electricity market to unlock massive new investment in energy generation. "This will result in lower electricity costs for all South Africans and more renewable energy to power our economy." In addition, the President said South Africa has received international pledges worth R230bn towards its just energy transition, with investments in transmission, renewables and localised development. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
The Herald Scotland
26-06-2025
- Business
- The Herald Scotland
Huge funding boost for sustainable travel routes across Glasgow
The cash boost draws on four separate funding schemes backed by the Scottish Government through Transport Scotland - the Active Travel Infrastructure Fund (ATIF), the People and Place Programme (PPP), Local Authority Direct Award (LADA) and SPT's Capital Grant Fund. Funding of £3.8m will be used to deliver four major active travel infrastructure projects – Connecting Woodside (St George's Road), Connecting Yorkhill and Kelvingrove (Phase 1), Flourishing Molendinar (Phase 1) and Dumbreck Road Active Travel Link. Work will start in the coming months to construct these new routes. Funding of £4.9m from ATIF Tier 1 will also be used on a range of smaller-scale projects that increase the appeal of active travel, including Phase 5 of the East City Way which will now advance to construction. Pedestrian crossings will be upgraded (Image: GCC) Design work to support the delivery of Connecting Greater Govan and future phases of Flourishing Molendinar and the East City Way, will also now be moved forward. High visibility cycle counters and the continued roll out of Glasgow City Council's school cycle shelters programme will now move forward, as will the delivery of upgraded traffic signals and pedestrian infrastructure at various locations across the city. PPP funding of over £1m, administered by SPT, will support a wide range of initiatives to be delivered by third sector organisations including Women on Wheels and Bike for Good. Projects include those that reduce barriers to active travel such as learn-to-ride group cycling sessions, subsidised bike access for people on low-incomes, and support for employers keen to encourage their staff to commute by bike. An SPT Capital Grant Fund award of £435,000 will encourage greater use of public transport through bus route priority upgrades, improved access to bus and Subway stations, and enhancements to the Paisley Road West bus corridor. While projects progressed through £341,958 of LADA award funding will include our Staff Travel Plan, road safety initiatives which encourage travelling actively to school, and winter gritting of cycling routes. Routes will be upgraded across the city (Image: GCC) Councillor Angus Millar, City Convener for Transport, welcomed the multiple funding awards as a vote of confidence in Glasgow's efforts to support walking, wheeling and cycling across the city. Cllr Angus Millar said: "These funding awards are really great news for active travel in Glasgow. "We want to create a roads network that encourages walking, wheeling and cycling across the city and it's great to see our vision being backed by the Scottish Government in this way. Some of these funding streams focus on construction-ready projects and I am delighted that the efforts we have made to develop designs for potential new infrastructure are being recognised. 'The funding will also enable us to invest further in organisations and activities that give people the knowledge, skills and confidence to use our growing infrastructure network, supporting them to walk, wheel and cycle more often. We'll also be delivering high-quality upgrades to pedestrian infrastructure across the city such as safer, step-free crossings, tactile paving, dropped kerbs, and wider pavements. "Major infrastructure projects such as Connecting Woodside, the East City Way and Dumbreck Road Active Travel Link will all make vital connections to other routes that make it easier to move around the city by bike. We know that as more and more safe, segregated routes begin to knit together across Glasgow, people will be more minded to choose active travel instead of having to depend on the car for local journeys.' READ MORE: I'm scared of cycling Edinburgh's city centre. Here's what happened when I did Emergency city centre road closure after sinkhole discovered 'Another significant step forward' for city centre transformation Cabinet Secretary for Transport Fiona Hyslop added: 'I'm pleased that this £10.6 million award from the Scottish Government to Glasgow City Council will help realise their ambitions for better walking, wheeling and cycling infrastructure, alongside projects which encourage more active travel. 'Through this investment we will make it easier for more people to choose sustainable transport. 'To support the continued ambitions of our local authorities – and to keep making walking, wheeling and cycling easier for shorter everyday journeys – in 2025-26 the Scottish Government will invest over £188 million in active and sustainable transport.'
Time of India
17-06-2025
- Business
- Time of India
LMC gets 144cr to boost city's infra and civic devpt projects
Lucknow: Lucknow Municipal Corporation (LMC) received a financial boost of Rs 144 crore, which will be used to carry out development work across the city. The funding was approved through two major sources — Rs 80 crore under the Infrastructure Fund and Rs 64 crore under the 15th Finance Commission. These funds will be directed toward repairing roads and drains, improving air quality, developing public spaces, managing waste, and beautifying city areas. The final approval was given at a recent meeting chaired by mayor Sushma Kharkwal at the Smart City office. Municipal officials earlier submitted detailed proposals for a range of civic infrastructure improvements, which now received the green signal. This move is expected to significantly speed up the pace of urban development and solve long-standing civic issues. Under the Infrastructure Fund, Rs 80 crore was sanctioned out of the total demand of Rs 160 crore. The remaining Rs 80 crore is expected to be sanctioned in the next phase. Key projects under this fund include cleaning and maintenance of lakes, road and drain repair, flood control infrastructure, installation of street lights, and construction of entry gates at the city's borders. For instance, Rs 10.12 crore was sanctioned for desilting and cleaning Kathauta and Bharwara lakes. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Switch to UnionBank Rewards Card UnionBank Credit Card Apply Now Undo According to Jal Kal GM Kuldeep Singh, this will greatly improve maintenance activities and the ecological health of both lakes. In view of the city's expansion, welcome gates will be constructed at seven major entry points—Sitapur Road, Rae Bareli Road, Kanpur Road, Ayodhya Road, Kursi Road, Hardoi Road, and Deva Road—at a cost of Rs 1.70 crore. The city has also been grappling with traffic congestion and waterlogging. To address this, Rs 28 crore was sanctioned for road and drain repair, including improvements at major intersections. Additionally, Rs 50 crore will be used to clean and repair seven large drains to prevent urban flooding during the rainy season. To enhance night-time visibility and public safety, Rs 25 crore was allocated for resolving street light issues in newly expanded areas and for the maintenance of existing lighting systems. Another Rs 10.5 crore was approved for constructing and repairing flood pumping stations. Other projects under the Infrastructure Fund include traffic improvement, sheds at Kanha Gaushala, construction and repair of municipal schools, a Kalyan Mandap, and new equipment for Aishbagh Jal Kal such as tractors, DG sets, and a Hydra crane. Additionally, funds were sanctioned for removing tangled electric wires and shifting transformers, while Rs 15 crore will be used to develop model vending zones to decongest footpaths and designated vendor areas. A new sports zone will also be created under the Munshi Pulia flyover with an investment of Rs 2.21 crore. The 15th Finance Commission also approved Rs 64 crore for various works. The most significant portion—Rs 36.45 crore—will be used for road repair and interlocking work. To improve air quality, Rs 1.5 crore was sanctioned to buy three anti-smog guns, while Rs 50 lakh was allotted to set up an air quality improvement cell. Two mist towers will be purchased for Rs 1 crore, and Rs 2 crore will be spent on building a construction and demolition (C&D) waste processing plant. Other works under this fund include improvements in drinking water supply (Rs 30 crore), projects under the AMRUT scheme (Rs 11 crore), and infrastructure upgrades for waste processing, such as trash skimmers, crawler excavators, and electric works at compost units. Parks, green belts, and vertical gardens have also been included in the developmental blueprint to improve the city's environmental landscape.
Scoop
29-04-2025
- Business
- Scoop
Government Exploring Northern ‘Energy Bridge'
Press Release – New Zealand Government The Ministry of Business, Innovation and Employment (MBIE) will use up to $2m from the Regional Infrastructure Fund to investigate the feasibility of upgrading Northlands electricity infrastructure to act as an energy bridge between Northland and … Hon Shane Jones Minister for Regional Development The Regional Infrastructure Fund will invest up to $2 million to investigate building additional electricity transmission and distribution capacity in Northland, which could also have benefits further afield, Regional Development Minister Shane Jones says. 'New Zealand needs significantly more electricity generation as the economy grows and demand for power increases. Northland is rich in natural renewable resources, such as wind and solar which are suitable for generating renewable energy,' Mr Jones says. The Ministry of Business, Innovation and Employment (MBIE) will use up to $2m from the Regional Infrastructure Fund to investigate the feasibility of upgrading Northland's electricity infrastructure to act as an 'energy bridge' between Northland and Auckland. MBIE will also carry out an economic analysis of the potential benefits in conjunction with local stakeholders. 'This project has the potential to unlock $1 billion of private investment in new renewable energy. If this is feasible, Northland could become a significant electricity generator and supplier of power which might have flow-on benefits for Auckland and the rest of the country,' Mr Jones says. 'This investment could increase electricity self-sufficiency in the region and improve the power generation capacity and resilience of the Northland network which will benefit local people. It could also reduce power prices for Auckland and nationally if wholesale prices can be brought down. 'More detailed work needs to be done into the feasibility of expanding Northland's power generation before further government funding can be considered but if the outcome is positive, the payoff could be massive. 'This is a long-term project and there is a lot of water to pass under the bridge yet, but if it goes ahead some new power generation could come online as components are completed, with full commissioning by 2029,' Mr Jones says. The project aligns with the Coalition Government's goals of building infrastructure and doubling renewable energy generation for New Zealand by 2035 to reduce emissions and enable economic growth.
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Business Standard
24-04-2025
- Business
- Business Standard
Motilal Oswal MF launches Infrastructure Fund: Here's all you need to know
Motilal Oswal Infrastructure Fund: Motilal Oswal Mutual Fund has launched its Motilal Oswal Infrastructure Fund, an open-ended scheme following the infrastructure theme. The scheme opened for subscription on April 23 2025 and will close on May 7, 2025. The scheme's performance is measured against the Nifty Infrastructure Total Return Index. The index is designed to reflect the market behaviour and performance of companies that represent the infrastructure sector such as power, port, air, roads, railways, shipping and other utility services providers According to the riskometer, the principal invested in the scheme will be at very high risk. The investment objective of Motilal Oswal Infrastructure Fund is to achieve long-term capital appreciation by predominantly investing in equity and equity-related instruments of companies that are engaged directly or indirectly or are expected to benefit from the growth and development of the infrastructure sector in India. However, there can be no assurance that the investment objective of the scheme will be realized, according to the Scheme Information Document (SID). Investors can invest a minimum amount of ₹500 and in multiples of ₹1 thereafter. The minimum additional investment amount will be ₹500 and in multiples of ₹1 thereafter. According to the SID, if the units are redeemed within three months from the day of allotment, an exit load of 1 per cent will be charged. However, no exit load will be charged if units are redeemed after three months from the date of allotment. Ajay Khandelwal, Bhalchandra Shinde, Rakesh Shetty and Sunil Sawant serve as the designated fund managers for the scheme. Prateek Agrawal, managing director and chief executive officer at Motilal Oswal Asset Management Company said, India's infrastructure growth is gaining momentum. Motilal Oswal Infrastructure Fund provides investors an opportunity to participate directly in this transformation across the infrastructure sector, aiming for long-term value. "As capital expenditure picks up across sectors like roads, railways, energy, urban, social and digital infrastructure, we believe this fund offers a compelling opportunity to participate in India's infrastructure development journey," he added. Motilal Oswal Infrastructure Fund: Who should invest? According to the SID, the scheme is suitable for investors who are seeking capital appreciation over the long term and investing predominantly in equity or equity-related schemes of companies that are engaged directly or indirectly or expected to benefit from the growth and development of the Infrastructure sector in India. However, there can be no assurance that the investment objective of the scheme will be realized.
