February 21, 2019 / 11:16 AM / 6 months ago

South Africa's Eskom bailout could reach 150 bln rand

JOHANNESBURG, Feb 21 (Reuters) - A bailout for struggling South African state utility Eskom could reach as much as 150 billion rand ($10.79 billion) over 10 years, a senior National Treasury official told Reuters.

The Treasury said on Wednesday that it would provide Eskom with 69 billion rand of financial support over three years.

But Ian Stuart, a senior official at the budget office, told Reuters that Treasury had included in its national debt-to-GDP projections a further 23 billion rand of annual support to Eskom after that three-year period.

The final amount of support would depend on factors including economic growth, demand for electricity and the rate of reorganisation at Eskom, Stuart said. ($1 = 13.8955 rand) (Reporting by Alexander Winning Editing by Joe Brock)

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