SPG Concessions.
The vehicle through which SPG holds its stakes across the Bombela group of companies — the entities that design, build, operate and maintain the Gautrain.
The Gautrain Rapid Rail concession is the anchor of SPG's portfolio. Since the original concession agreement, SPG has held empowerment shareholdings in every layer of the Bombela structure — from the top-level Concessions Company to the joint ventures that built the tunnels, tracks, stations and depots.
Following the December 2017 acquisition, SPG's stake in the Bombela Concessions Company rose to 37.87%, consolidating SPG as the largest empowerment partner in the concession.
Shareholdings
| Entity | Role | SPG stake |
|---|---|---|
| Bombela Concessions Company (BCC) | Top-level concession holder | 37.87% |
| Bombela Operating Company (BOC) | Rail operations | 25.1%* |
| Bombela Turnkey Contractor (BTC) | Design and build | 25% |
| Bombela Electrical & Mechanical (BEM) | E&M systems | 10% |
| Bombela Civils Joint Venture (BCJV) | Civil works | 10% |
| Bombela Maintenance Company (BMC) | Maintenance | 10% |
| Mega Express | Gautrain bus network | 22.5% |
* Rises to 27.5% after the fifth year of the operating contract.
Beyond the 2026 termination.
The existing concession terminates in 2026. SPG has been building the partnerships, the technical depth and the operational track record to be part of whatever comes next — whether that is an extension, a re-tender, or the next phase of the rail network.