Transnet allocated almost R6bn for repair and maintenance of infrastructure
The funds are also expected to boost locomotive capacity, the shortage of which has dismayed Transnet’s customers as they’ve not been able to export desired volumes
Transnet has been allocated double the R2.9bn it requested from the government over the medium term as the state seeks to avert the further deterioration of the port and freight rail operator, which has just emerged from a near-crippling strike by unions.
The Treasury has allocated Transnet a total of R5.8bn in the medium-term budget policy statement (MTBPS), presented by finance minister Enoch Godongwana on Wednesday. Half of the amount is allocated to fund the repair of infrastructure damaged by the April floods in KwaZulu-Natal and the Eastern Cape, and the other half to maintain freight rail locomotives...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.