"Quite clearly, this massive capacity growth should unlock pent-up demand for logistics capacity and serve as a much-needed stimulus to growth and job creation," he said.
In the next quarter, Gigaba said, Transnet would introduce a seven-year fleet locomotive procurement, unprecedented in South Africa's history. By 2020, 6 405km of rail would have been replaced for the general freight coal and ore lines, 1 317 new locomotives and 25 000 new wagons would have been added, increasing the rail network capacity by 149.7 million tonnes. According to Fin24, Transnet's contribution to employment would increase from 369 000 to just above 570 000 in 2018/2019. The project would, however, require "serious private sector participation", Gigaba said.
Read the full article on www.fin24.com.
