Transnet to spend R300bn on upgrades
Transnet intends spending R300bn for infrastructure upgrades over the next 7 years.
CAPE TOWN - Transnet on Tuesday released details of several mega infrastructure projects it was planning for over the next seven years.
The rail freight giant appeared before Parliament's Economic Development Committee.
It planned to spend R300 billion over the next seven years as part of a massive upgrade initiative
Transnet's Siyabonga Gama said they will be keeping pace with electricity supplier Eskom, which is also increasing its capacity.
"We believe that over the next seven years we will move from 7 million tonnes transported by rail in 2012 to 30 million tonnes."
Transnet also intend increasing its freight rail capacity from 79 million tonnes to 170 million tonnes by 2019.