R5.2 Bn for Airports overhaul
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R5.2 Bn for Airports overhaul
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The Airports Company South Africa will spend R5.2bn in the next four years on improving infrastructure before the Soccer World Cup in 2010.
Most of the money will be spent on Johannesburg International Airport, which is to get new multi-storey parking lots, a parking bay for the new supersize Airbus and a railway station for the Gautrain.
"Investment will increase significantly in the current financial year to R1.2bn and planned capital expenditure for 2005/09 is R5.2bn," Acsa's managing director Monhla Hlahla said at the company's results in Johannesburg on Tuesday.
"The awarding of the tournament to South Africa has meant an acceleration and bringing forward of capital expenditure programmes.
"Our goal is to have all development projects complete by 2010 so that there are no construction sites at our facilities when the tournament is on."
At JIA a central terminal development, costing an estimated R1.6bn is being brought forward by two years.
The Northern International Pier Project to accommodate the Airbus A380, which carries up to 800 passengers, has gone out to tender. The project will cost an estimated R512m.
The parkades, which are designed with 4 000 parking bays to cope with an increased demand from the growing popularity of low-cost airlines, will cost R300m.
Expected increases in traffic at JIA require additional aircraft parking at a cost of R100m.
Some 7.3 million passengers departed from JIA for the year ending March 2005.
At Cape Town International Airport, from where 3.1 million passengers departed in Acsa's past financial, work has started on a new R70m multi-storey parkade.
A structured parking area is also being built at an estimated cost of R125m.
There are plans to expand the airport's terminal at a cost of R650m.
At Durban International Airport, which had 1.6 million departing passengers, terminal buildings will be extended at a cost of R35m, while a parking area is being built at a cost of R93m.
Other airports around the country will receive R132m for upgrades.
Acsa earlier on Tuesday reported headline earnings for the year rose by 26% to R593m, driven by an increase in domestic airline traffic.
Acsa financial director Brooks Mparutsa said the profits appeared to be sustainable.
"The profits going forward are healthy and sustainable," he said.
Acsa's revenue for the year rose by 5.3% to R1.9bn as passenger numbers rose by 12% to 13.3 million.
Acsa's operating expenses rose by 7.8% to R1bn for the year.
Staff expenses were at R336m, up 13% for the year.
Repair and maintenance costs were at R99m, up 5.6%.
A dividend of 59c a share was declared.
Most of the money will be spent on Johannesburg International Airport, which is to get new multi-storey parking lots, a parking bay for the new supersize Airbus and a railway station for the Gautrain.
"Investment will increase significantly in the current financial year to R1.2bn and planned capital expenditure for 2005/09 is R5.2bn," Acsa's managing director Monhla Hlahla said at the company's results in Johannesburg on Tuesday.
"The awarding of the tournament to South Africa has meant an acceleration and bringing forward of capital expenditure programmes.
"Our goal is to have all development projects complete by 2010 so that there are no construction sites at our facilities when the tournament is on."
At JIA a central terminal development, costing an estimated R1.6bn is being brought forward by two years.
The Northern International Pier Project to accommodate the Airbus A380, which carries up to 800 passengers, has gone out to tender. The project will cost an estimated R512m.
The parkades, which are designed with 4 000 parking bays to cope with an increased demand from the growing popularity of low-cost airlines, will cost R300m.
Expected increases in traffic at JIA require additional aircraft parking at a cost of R100m.
Some 7.3 million passengers departed from JIA for the year ending March 2005.
At Cape Town International Airport, from where 3.1 million passengers departed in Acsa's past financial, work has started on a new R70m multi-storey parkade.
A structured parking area is also being built at an estimated cost of R125m.
There are plans to expand the airport's terminal at a cost of R650m.
At Durban International Airport, which had 1.6 million departing passengers, terminal buildings will be extended at a cost of R35m, while a parking area is being built at a cost of R93m.
Other airports around the country will receive R132m for upgrades.
Acsa earlier on Tuesday reported headline earnings for the year rose by 26% to R593m, driven by an increase in domestic airline traffic.
Acsa financial director Brooks Mparutsa said the profits appeared to be sustainable.
"The profits going forward are healthy and sustainable," he said.
Acsa's revenue for the year rose by 5.3% to R1.9bn as passenger numbers rose by 12% to 13.3 million.
Acsa's operating expenses rose by 7.8% to R1bn for the year.
Staff expenses were at R336m, up 13% for the year.
Repair and maintenance costs were at R99m, up 5.6%.
A dividend of 59c a share was declared.
