Transnet to get 1,000 new trains to boost SA's infrastructure

By Bizclik Editor

A bid to overhaul South Africa’s ageing rail network is being made with a 50bn-rand ($4.7bn) investment in more than 1,000 new trains.

Brian Molefe, Chief Executive Officer of Transnet, the state-owned freight transport company, said it was the single largest infrastructure investment by a South African Company.

He also revealed that building the new trains would create and preserves some 30,000 jobs.

He said: “This programme is unprecedented in the history of South Africa. This award is the single biggest infrastructure investment by corporate in SA and confirms Transnet's commitment as a leading investor in the economy."

Four suppliers, which will work with various BEE companies to supply Transnet with the new electric and diesel locomotives have been appointed and include General Electric, Bombardier and two Chinese companies.

It is anticipated all 1,064 trains will be delivered to Transnet in three years to replace existing locomotives, the average age of which is 32 years.

The new trains are just a part of a 300bn-rand, seven-year investment in South Africa’s rail, port and pipeline infrastructure.

“One-third of the 300bn, will go towards our ports,” said Molefe. “We have already started buying new equipment for the ports. We have new cranes for Duban, Cape Town, the port of Ngqura and Port Elizabeth.”

Share

Featured Articles

Abu Dhabi Airports prepares for Terminal A opening

A decade in the making, Abu Dhabi International Airport welcomes 6,000 volunteers to test operational readiness of stunning new Terminal A building

Business Chief expands portfolio with new look and coverage

Business Chief Middle East & Africa launches with fresh new look and extended coverage of the region, with exclusive executive interviews and insights

How Octopus Energy grew to become an industry giant

Octopus Energy continues to grow after a deal was agreed to acquire Shell Energy in the UK and Germany, taking its customer base to almost seven million

Perkbox CEO: How to support employees through tough times

Human Capital

How Middle East is embracing the future of digital finance

Corporate Finance

UAE Lulu Group shifts business for global growth and IPO

Corporate Finance