Expansion of Durban Port to cost R100bn over 10 years - Gordhan
Public Enterprises Minister Pravin Gordhan said that a port masterplan had already been developed and was undergoing consultations.
JOHANNESBURG - Transnet said that it would cost R100 billion to expand its Durban port over the next 10 years.
Briefing reporters virtually, the state-owned company’s management and Public Enterprises Minister Pravin Gordhan said that this would be part of its reform processes.
Minister Gordhan said that a port masterplan had already been developed and was undergoing consultations.
He said that it would form a basis for investment in the port.
"In about 10 years time, if everything works out well, there'll be a massive increase in the capacity of the Durban Port and it would handle almost 60% of the container traffic into and out of South Africa," the minister said.
Gordhan said that the freight sector, which has faced several challenges lately, would also be receiving attention.
In June, President Cyril Ramaphosa announced the establishment of the National Ports Authority as an independent subsidiary of Transnet, which would have its own board.
WATCH: Transnet reform processes: 'We are on track'
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