https://www.engineeringnews.co.za

Transnet, China Development Bank collaborate on infrastructure programme

26th March 2013

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

Font size: - +

State-owned freight group Transnet and China Development Bank on Tuesday agreed to “cooperate, explore and identify” collaboration opportunities on Transnet’s R300-billion infrastructure upgrade programme.

The agreement, signed by the parties at the Union Buildings in Pretoria, on Tuesday, included the financing of the construction and upgrade of railway and port infrastructure, as well as the localisation of equipment manufacturing – especially rail and ports.

This would enable the State-owned entity to explore innovative funding options focusing on cost-effective solutions and diversity as part of its efforts to diversify funding sources for the capital investment programme.

About two-thirds of the required R300-billion funding would be raised from internal resources, while the remainder would be raised through various sources in the debt capital markets.

Transnet and China Development Bank also agreed to join forces on research and development initiatives, manufacturing, marketing and the construction of cross-border infrastructure throughout the continent.

“This historic agreement between two State-owned entities within Brics illustrate the opportunities inherent in such diplomatic ties,” said Transnet CEO Brian Molefe in a statement.

The agreement was one of the various country-to-country collaboration agreements intended to strengthen economic and trade relations among the different Brics countries, Transnet pointed out.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (26/04/2024)
Updated 5 hours ago By: Martin Creamer
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.107 0.162s - 155pq - 2rq
Subscribe Now