POS­SI­BLE EX­PAN­SION

Finweek English Edition - - INVESTMENT - Si­mon Brown

I love the Gau­train. Yes, I know it is cost­ing tax­pay­ers a packet ev­ery year as they ef­fec­tively sub­si­dies it, but I am like a 10-year-old kid when I ride it. News is that there are plans to ex­pand the net­work and sud­denly every­body is talk­ing about how great this will be for Mur­ray & Roberts! First, this ex­pan­sion is a long way off; some re­ports sug­gest com­ple­tion in 25 years. Sec­ond, and more im­por­tantly, did Mur­ray & Roberts make much profit off the ini­tial Gau­train? The dis­pute about wa­ter seep­age in the Rose­bank-Park Sta­tion route is still on­go­ing and likely to be ex­pen­sive. si­monb@fin­week.co.za

@Si­monPB

*The writer owns shares in BTI.

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