Transnet eyes massive renewal project at Durban Port
Public Enterprises Minister Pravin Gordhan says Transnet has made headway in making the Port of Durban more efficient and competitive.
This comes as the Transnet board and management eye a R100 billion rand renewal programme in a bid to elevate it to a world-class port.
Gordhan briefed media on Monday, where he was joined by Transnet chairperson Popo Molefe and Group CEO Portia Derby.
He admitted the state-owned enterprise remains impacted by legacy issues but was optimistic of the future.
“You can see from the plan that was put to you that in ten years time, if everything works out well, there will be a massive increase in the capacity of the Durban Port and it would handle almost 60 percent container traffic in and out of South Africa,” Gordhan said.
The project is expected to cost up to R100 billion over ten years.
Gordhan added Transnet and government will rope in investors to cover the bulk of the cost.
“What is crucial is for the authorities in KZN and Ethekwini to create the conditions necessary in order for this kind of investment to take place,” Gordhan said.
The rail, port and pipeline company believes it can also use the lessons learnt from the recent unrest and cyberattacks to optimise its operations.
Listen to Gordhan below:
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