South Africa to Unveil $1.8 Billion Infrastructure Project

(Bloomberg) --

South African President Cyril Ramaphosa will unveil the government’s first project in its 2.3 trillion-rand ($139 billion) infrastructure program.

The 30 billion-rand Mooikloof Mega Residential City development situated in the eastern part of the capital, Pretoria, will be unveiled on Sunday, the presidency said in a emailed statement Friday.

Ramaphosa identified infrastructure as one of the main vehicles to help revive an economy that was already in recession before the coronavirus outbreak. In July, 62 priority projects were announced in the first stage of the program.

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