Liquidator: Prasa may get 'something' from R2.6bn it paid Swifambo for trains

But he said the liquidators were negotiating a settlement that would benefit the state-owned enterprise for up to R1.5 billion.

A screenshot of Swifambo Rail director Auswell Mashaba. Picture: Genghis Capital Limited/ YouTube.

JOHANNESBURG - Tshwane trust company liquidator Hannes Muller said he couldn't guarantee that Passenger Rail Agency of South Africa (Prasa) would not have to pay more money to get the 70 locomotives that it wanted when it paid Swifambo Rail.

But he said the liquidators were negotiating a settlement that would benefit the state-owned enterprise for up to R1.5 billion.

Muller has testified at the state capture commission on Thursday.

Muller said they were negotiating a settlement that would be beneficial to the SOE.

Voslooh, the German company that was fronted by Swifambo, has been bought by Stadler.

But can Prasa get back the money it paid?

Liquidator Muller said he couldn't divulge all the details of ongoing investigations, but the SOE would get something.

“We're at an advanced stage of negotiating with Stadler and Prasa and Stadler has made propositions where they can adjust the trains to suit local, refurbish the unsold locomotives, which were on sale by the liquidator, they will supply spares and back up.”

It will be to the benefit of Prasa to the extent of a R1 billion to a R1.5 billion.”

Prasa paid R2.6 billion of the R3.5 billion of the contracts but only 13 locomotives were delivered and they too were too tall for local infrastructure.

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