S.Africa’s Transnet to spend additional $6BN on ports, railways over three years

by Reuters 0

 South Africa’s state-owned freight logistics group Transnet will invest an additional 84 billion rand ($6 billion) over the next three years to increase capacity at ports and railway lines, the Department of Public Enterprises (DPE) said on Wednesday.

However, Transnet does not expect to meet a target of 330 million tonnes of freight rail by the end of the 2018/19 financial year, due to a domestic and global economic downturn, the DPE’s latest annual report tabled in parliament showed.

($1 = 13.5709 rand)

Reporting by Wendell Roelf; Editing by James Macharia