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South African News and Market Update: Cabinet says final decision on e-tolls not yet made, and more.

South African News and Market Update: Cabinet says final decision on e-tolls not yet made, and more

M&R expands in US market with R423 million deal

Engineering and construction group Murray & Roberts (M&R) has acquired privately-owned, fourth-generation engineering and construction company JJ White Incorporated, in the United States for a maximum of $28,25 million (approximately R423 million). The acquisition was made through M&R’s subsidiary Clough, the brand name for M&R’s energy, resources and infrastructure platform (ERI). M&R said on Tuesday that the transaction was part of the group’s strategy to diversify and expand the service offering of its ERI business platform in North America.

Cabinet says final decision on e-tolls not yet made

Government has not made a final decision on the future of e-tolls on the Gauteng Freeway Improvement Project (GFIP). This is despite comments made by Transport Minister Fikile Mbalula late last week that the e-toll system cannot be scrapped. Mbalula’s remarks have caused some confusion as some people interpreted his comments as the government’s long-awaited final decision on the future of the controversial system. Cabinet spokesperson Phumla Williams, however, told Moneyweb on Tuesday that a final decision on the future of e-tolling on GFIP has definitely not been made yet.

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