Jean-Michel Severino, the head of Agence Française de Développement (AFD), arrives in South Africa tomorrow, and he is set to finalise investment deals to the tune of R3.5-billion with Transnet as well as the Central Energy Fund (CEF).

Among other projects, the new container terminal expansion in Cape Town, proposed by Transnet, is set to be boosted by a €200-million investment from the AFD. Severino is also set to sign deals to provide funding for the CEF’s carbon capture and storage programme, the Desmond Tutu HIV Foundation, the National Housing Finance Corporation – to the tune of €20-million – and the Development Bank of South Africa (DBSA) – to the tune of a €100-million.

These investments will be in line with the AFD’s prerogative to fund infrastructure and renewable energy projects.

Reported by Engineering News