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R1.4 billion investment to fuel Vaal River Mega City and new airport
The construction of the Vaal River Mega City in Bedworth Park marks the beginning of an ambitious project to transform the region.
Image: DBM Architects
The Vaal River City Interchange in Bedworth Park, Vereeniging, is set to transform the area as construction for an interchange, a mega city and an airport commences.
This is the same project President Cyril Ramaphosa mentioned at the at the presidential imbizo in August 2022, followed by a site visit from Paul Mashatile in April 2023.
At the time, Mashatile said the project aims to create new economic opportunities and drive growth in the region.
Vaal River Mega City
The Vaal River City Interchange project is strategically located on the R42 between Vanderbijlpark and Vereeniging near Powerville and Bedworthpark.
The primary objective is to upgrade the intersection on Ascot on Vaal Road, improving connectivity and enhancing traffic flow.
Meanwhile, as reported by Bloomberg, Citigroup is partnering with is partnering with the Gauteng provincial administration to fund nearly R1.4 billion towards the project.
Citigroup investment
This investment will take the form of a seven-year loan facility, while the development has the potential to bring in more than R30 billion in additional investments.
This public-private partnership aims to construct a mixed-use mega city, along with an international airport, a logistics hub, manufacturing facilities and agricultural centres.
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The project aims to propel the Vaal area into a thriving metropolitan region, attracting investments and economic growth, and positioning the area as a prominent business destination.
Mega city construction, mega jobs
Construction to upgrade the intersection on Ascot on Vaal Road (on the R42 between Vanderbijlpark and Vereeniging near Bedworthpark) kicked of back in March 2023.
Apart from the long-term boost to the region, the project also had an immediate impact on job creation.
Up to 10 000 jobs will be created during the construction phase while 19 000 jobs will be available when the project is complete and open for use.
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