Transnet has finalised the first randdenominated Export Credit Agency (ECA) financing facility for the procurement of equipment for the ports of Durban, Ngqura and Cape Town. This transaction, amounting to R915-million and supported by Finnvera, the Finish export credit agency, forms part of Transnet’s five-year R80-billion capital expenditure programme. The proceeds of the funding will be used for the purchase of straddle carriers and rubber-tyred gantries (RTGs) for the Pier 1 container terminal in Durban; the newly upgraded container terminal in Cape Town; and the Ngqura container terminal, expected to be operational later this year.
