Infrastructure to get R93.4bn boost over five years

Transnet will invest R93.4 billion in its infrastructure over the next five years with its rail divisions, Transnet Freight Rail (TFR) and Transnet Rail Engineering (TRE), sharing 59% of the projected spend, the ports, Transnet Port Terminals (TPT) and Transnet National Ports Authority (TNPA), sharing 26%, while Transnet Pipelines (TPL) will receive the bulk of the 15%. Announcing the annual results last week, acting Transnet CEO Chris Wells said the company had invested R8.7 billion on sustaining and upgrading existing infrastructure and R9.7 billion on expansion in the last financial year. In addition, the capital investment programme will renew the locomotive and wagon fleet by 15% and 10% respectively and 20% of its cranes over the next three to five years to accommodate the planned ramp-up of capacity on the iron ore line to 61mt, the coal line to 81mt and GFB to110mt per annum. Container capacity is expected to increase from 4.56 to 6.26 million TEUs while the completion of the New Multi Products Pipeline will almost double petroleum pipeline capacity from the current 4.4 to 8.7 billion litres per annum. Wells gave his assurance that the procurement problems facing the locomotive fleet acquisition programme had been fully resolved.