Bombela clarified today that in its contract with Gauteng Province, an incentive framework has been agreed and contracted that will benefit Bombela up to a maximum of R150 million escalated in order to achieve a commissioned Phase 1 system for the 2010 Soccer World Cup. This will require an exceptional effort from all participants, including local authorities, utility owners, ACSA and SARCC, building on the private public partnership established through the tender and selection process in pursuit of a common objective.

This agreement is subject to adjustment in terms on the contract for delays and costs outside the control or responsibility of Bombela.

Bombela has also clarified its contracted obligations concerning the Gautrain Project’s Socio Economic Development (SED) and Empowerment program. The stipulated fines are a matter of principle with Bombela and Gauteng Province jointly committed to ensuring that the significant investment in the project is tangibly felt by society across a number of dimensions. To date there has been measurable success in meeting the agreed obligations.

Issued by Bombela Concession Company
For further enquiries contact: Yolisa Tyantsi
Mobile number: +27 82 389 2443
Office number: +27 11 977 8222/8224
E-mail: yolisa.tyantsi@bombela.com