July 14, 2015 / 8:54 AM / 2 years ago

S.Africa's Transnet sees expansion spend rise 24 bln rand

JOHANNESBURG, July 14 (Reuters) - South Africa's state-owned logistics firm Transnet expects its capital expansion plan will now cost 336.6 billion rand ($27.07 billion), up from 312.2 billion a year ago, the company said on Tuesday.

Transnet is four years into a seven year plan to expand railways, pipelines and ports in Africa's most advanced economy as part of what CEO Siyabonga Gama calls "counter-cyclical" spending as economic growth hovers around 2 percent. ($1 = 12.4360 rand) (Reporting by TJ Strydom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below