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S.Africa's Transnet to spend additional $6 billion on ports, railways over three years
October 4, 2017 / 11:07 AM / 14 days ago

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

CAPE TOWN, Oct 4 (Reuters) - 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)

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