Ricochet News

The Overstrand's top 10 Major capital projects planned for 2018/19

Jun 7, 2018
The Overstrand's top 10 Major capital projects planned for 2018/19

The Overstrand Municipality's new capital budget of R194,2 for 2018/19 is 66,6% more when compared to the 2017/18 Adjustment Budget. 

According to Municipal Spokesperson, Riana Steenekamp, the Top 10 projects comprise of 46% of the total capital budget.

"The increased own funding from surplus is due to gash generated from operations, which includes a further portion from the recent land sales," she described.

"Further projects from the proceeds of land sales will be prioritised in future budgets, subject to maintaining minimum financial sustainability levels.

"Own funding (borrowing) is anticipated at R54m per annum over the 2018/19 MTREF. These borrowings contribute to 34.8% of the funding over the 2018/19 MTREF. The balance will be funded from internally generated funds (25,7%) and capital grants (39,5%)."

Project                 Description                                                                                           Ward                     Amount

BLOMPARK PROJECT                                                                                                     Ward 02               R16 313 610

WWTW UPGRADE - STANFORD                                                                                   Ward 11               R16 177 180

HERMANUS:MV & LV UPGRADE/REPLACEMENT                                                   Ward 03               R10 150 000

WATER MASTER PLAN IMPLEMENTATION                                                             Overstrand             R10 000 000

MASAKHANE                                                                                                                     Ward 01             R8 449 062

UPGRADE HERMANUS WELL FIELDS PHASE 1                                                       Ward 04               R7 000 000

NEW RESERVOIR FOR PRINGLE BAY                                                                         Ward 10               R5 862 505

STANFORD IRDP                                                                                                              Ward 11               R5 517 519

VEHICLES-SEWERAGE                                                                                                  Overstrand           R5 050 000

HAWSTON INDUSTRIAL(BUSINESS) HUB                                                                Ward 08                R5 000 000