Menu

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

Featured

Transnet - [https://southerncourier.co.za/wp-content/uploads/sites/36/2017/06/Transnet.jpg] Transnet - [https://southerncourier.co.za/wp-content/uploads/sites/36/2017/06/Transnet.jpg]

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)


 

Source

CNBCAFRICA

back to top

Industries

About us

Follow us

Follow us @BusinessNewsCT

BusinessNewsCT My week on Twitter 🎉: 1 Like. See yours with https://t.co/Tiays5F2Bv https://t.co/6gZqV71XMU
BusinessNewsCT Look out for Kwatani 'Beast' at Electra... With added sweetener - https://t.co/PCRBzzKfkF https://t.co/Ppd9GbqAyx