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SAICE Welcomes President’s call for Project Preparation and Financing at the Forefront of Infrastructure Development


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SAICE Welcomes President’s call for Project Preparation and Financing at the Forefront of Infrastructure Development

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SAICE Welcomes President’s call for Project Preparation and Financing at the Forefront of Infrastructure Development

SAICE Welcomes President’s call for Project Preparation and Financing at the Forefront of Infrastructure Development
Photo by Bloomberg

6th November 2020

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The South African Institution of Civil Engineers (SAICE) welcomes President Cyril Ramaphosa’s call for the public and private sectors to work together to complete infrastructure projects. Ramaphosa made this statement at the opening the Infrastructure South Africa, Project Preparation Event held in Midrand, Johannesburg this week.

Vishaal Lutchman, CEO of SAICE states, “We are pleased to see that President Ramaphosa is also calling on the infrastructure sector to ensure that preparation and financing are at the forefront of project planning”. This is especially important on the back of the President’s announcement last month of the massive rollout of infrastructure aimed at reviving the ailing economy.

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The roundtable event was held in order to bring both the public and private sectors together to ensure a more coordinated engagement especially related to the financing of these projects, with government now committed to financing the project preparation process. One of the aims of the event was to identify how infrastructure South Africa can act as an enabler of these opportunities in the following months through its role as an entity to unblock priority projects for South Africa. It also aimed to align key stakeholders and decision makers (donors, development banks, commercial financiers in the project preparation field and project developers) on the actionable solutions at hand that can accelerate project preparation and unblock the growing number of projects in the early stage pipeline in South Africa.

Infrastructure has great potential to stimulate investment and growth, and has a multiplier effect which will ultimately lead to development of other economic sectors thus creating sustainable employment. However, Lutchman warns that poor planning and preparation in infrastructure development efforts will ultimately see an inverse reaction with counterproductive economic effects.

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“Any experienced civil engineer is acutely aware of the impact that poor project preparation can have down the line. I am certain that many such engineers have experienced the consequences of financial or structural disasters. The importance of proper planning cannot be overemphasised. However, at the same time, the development of infrastructure for economic growth is urgent. Projects need to get off the ground so that life can flow back into our society.” He said that SAICE and the wider civil engineering community is ready to play their part in ensuring that the strategic infrastructure projects are approached in a well-planned and prepared manner. “While we can work quickly, we cannot cut corners. Ultimately, proper planning and preparation is the only way we can ensure our infrastructure development is sustainable and capable of providing the economic stimulation we so urgently require,” says Lutchman. “We all have a role to play in the Economic Reconstruction and Recovery Plan. The private and public sector needs to collaborate to see this plan to success,” he concludes.

 

Issued by The South African Institution of Civil Engineers

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