Transnet to issue request to look for private investors for its Durban port

Group CEO Portia Derby told journalists on Monday that the project would cost R100 billion and currently, Transnet would not be able to foot the bill.

FILE: The Transnet port terminal at the Durban Container Terminal. Picture: Transnet.

JOHANNESBURG - Transnet said it would issue a request for information to introduce private sector investors to its Durban port as it looked to expand the facility in the next 10 years.

Group CEO Portia Derby told journalists on Monday that the project would cost R100 billion and currently, Transnet would not be able to foot the bill.

Transnet board chairperson Popo Molefe has reassured the public that while they are looking for equity partners for the infrastructure projects at the ports, this does not equate to privatisation.

“What we are doing is to invite the private sector to participate in key infrastructure projects that we are embarking on and in solutions that are necessary, for example, to TFR to deal with cable theft.”

Transnet wants to expand the Durban port into a super terminal to handle “very” large vessels, which will also improve its efficiency.

Derby said: “So we are going to go into the market to look for potential partners for transport port terminals to deliver operating services to the container terminal in Pier 2 as well as Ngqura terminals.”

Transnet can only invest R3.5 billion on the project, hence the issuing of the RFI, which is meant to test investor appetite.

Download the Eyewitness News app to your iOS or Android device.