Name and Location
Beitbridge border post upgrade, Zimbabwe.

Project Description
The Beitbridge border post is the busiest transit link in Eastern and Southern Africa, and the main axis of the North–South corridor linking South Africa by road and rail with Zimbabwe, Botswana, the Democratic Republic of Congo, Malawi, Tanzania, Zambia and northern Mozambique.

It processes more than ten-million tons of cargo a year.

The upgrade of the border post will see traffic diverted into three streams, one each for light vehicles, pedestrians and buses and trucks.

The old border post buildings will be razed and a new building erected. Construction will include a 5 km access road from the junction of the roads from Bulawayo and Harare, and 250 freestanding houses for new border staff.

Value
Old Mutual’s Infrastructure, Developmental and Environmental Assets Fund has financed the equity requirements for the South African Investment Company (SAIC) to upgrade the Beitbridge border post.

The project is valued at $90-million.

Duration
The project is expected to be completed in March 2013.

Client
SAIC, a joint venture company comprising Old Mutual, Sanlam, Nedbank and NLP.

Key Contracts and Suppliers
Wilson Bayly Holmes-Ovcon (engineering procurement and construction contract), Old Mutual (finance) and Standard Bank (lead debt arranger).

Latest Developments
There have been no developments thus far.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Old Mutual, tel +27 21 509 9111.
Sanlam, tel +27 21 916 5000.
Nedbank media officer Tabby Tsengiwe, tel +27 11 295 8731, fax +27 11 294 8731 or email tabby@nedbank.co.za; media officer Greg Harwood, tel +27 11 295 9754, fax + 27 11 294 9554 or email gregh@nedbank.co.za.