LOCOMOTIVE DEAL
Popo Molefe vows Prasa will retrieve R2bn from Swifambo
Swifambo Rail Leasing to file an appeal, which the Passenger Rail Agency of SA board chairman says will be opposed
Passenger Rail Agency of SA (Prasa) board chairman Popo Molefe says the rail agency will do everything in its power to recover the R2bn it paid to Swifambo for locomotives, including applying for the company to get sequestrated. Swifambo Rail Leasing told Business Day it would file its appeal papers in the High Court in Johannesburg in the matter involving Prasa’s R2.6bn locomotive procurement deal on Monday. Last week it emerged that Prasa was pursuing the R2.6bn which it paid to Swifambo. Molefe said Prasa intended to oppose Swifambo’s application for leave to appeal, but said that Swifambo’s appeal would not be on the merits of the transaction itself as this was not contested by the firm in the original case.
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