TCTA (Trans-Caledon Tunnel Authority)

The Trans-Caledon Tunnel Authority (TCTA) was established in 1986 as a specialized liability management entity to finance and implement the South African portion of the Lesotho Highlands Water Project (LHWP). Over the years, its mandate has been expanded by the Minister of Water and Sanitation to include other major national water infrastructure projects. As a Schedule 2 state-owned entity, TCTA's primary mission is to raise funding from capital markets and other sources to build critical water infrastructure, ensuring water security for South Africa. It operates on a project-finance basis, meaning the debt incurred is repaid from the revenue generated by the sale of water from the completed projects.