R33bn upgrade for South Africa’s #ports
Port operator Transnet Port Terminals will spend R33-billion (US$4.3-billion) over the next seven years on upgrading and expanding South Africa’s ports, as part of a massive state-led infrastructure drive aimed at boosting the country’s economic growth.
The R33-billion capital expenditure will form part of state-owned Transnet Group’s R300-billion (US$39.1-billion) expenditure on port and rail capital projects until 2018/19.
Unveiling details of the expenditure in Durban on Thursday, Transnet Port Terminals CEO Karl Socikwa said Transnet’s new market demand strategy "has major implications for our division’s responsibility to facilitate unconstrained growth, unlock demand and create world-class port operations through improved efficiencies.
Read more: http://www.southafrica.info/business/economy/infrastructure/ports-040512.htm
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