Turnaround continues, writes Anna Cox
SPOORNET TURNED in satisfactory financial results for the month of January, achieving a net profit of R88m against a budgeted net loss of R27m, chief executive
officer Zandile Jakavula told FTW last week.
Cumulatively for the months April 2000 to January 2001, the utility posted R282 million net profit, he said.
Its capital investment aim for 2001/2002 was to redress the age of assets and infrastructure, and of the total amount of R1,1 billion, 64% would be invested in existing and continuing projects.
Expenditure for wagons is set at
R245 million, on traction R206
million, on infrastructure R420 million and on telecommunications
R40 million.
Bigger projects include the electrification of the Kimberley - De Aar line at R180 million, the COALink infrastructure at a cost of R23 million and Orex wagons at R194 million.
Several other projects would start in 2001/02, said Jakavula. These include the conversion of plain bearing wagons to roller bearing wagons for general freight traffic at a cost of R93 million; fleet renewal and modernisation for general freight traffic at a cost of R184 million; COALink: ECP braking installation on fleet and distributed power at R200 million; and a new generation locomotive plan at R15 billion.
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