Sanral raises expansion funds

The South African National Roads Agency Limited (Sanral) has raised another R525 million in its eighth auction for 2010. Under its Domestic Medium Term Note Programme, carrying a full guarantee from the Government, Sanral has now raised some R20.2 billion of bonds for the expansion and upgrade of toll roads, particularly the Gauteng Freeway Improvement Project (GFIP). Some R9.95 billion of the money raised has been without guarantee.