Transnet to invest US$4.3 billion to up South African capacity in 7 years
2012 04 17
- Details
STATE-RUN Transnet Port Terminals (TPT) plans to spend US$4.3 billion to accommodate rising South African container volumes expected over the next seven years, reports London's Port Technology International.
TPT's parent, Transnet Group, will spend $39.1 million in port and rail capital projects. Investments are part of the Transnet Market Demand Strategy (MDS) recently announced by South African President Jacob Zuma in his State of the Nation Address.
Seventy-one per cent of the TPT funding in the seven-year investment pipeline will be go on expansion projects, creating capacity to meet projected demand, said the report.
The remaining 29 per cent will go towards capital sustaining projects aimed at achieving operating norms and upholding service delivery, including the replacement of old gear and refurbishing existing equipment.
"These investments in South Africa's commercial port operations will continue to provide a springboard for growth," said TPT chief executive Karl Socikwa.
"We will implement specific initiatives to grow volumes and use capacity as it comes on stream, while improving operational efficiencies and growing personnel, thus ensuring the success of the Market Demand Strategy," Mr Socikwa said.
The main projects included the expansion of the Durban Container Terminal Pier 1, which will increase the capacity of the terminal from 700,000 TEU to 820,000 TEU by next year and eventually 1.2 million TEU by 2016-17.
In addition the North Quay at Durban Container Terminal Pier 2 will be extended to increase capacity from 2.1 million TEU in 2011-12 to 2.5 million TEU by 2013-14 and 3.3 million TEU by 2017-18.
Container capacity is also being created in other terminals such as the Durban ro-ro and Maydon Wharf Terminal through the acquisition of new equipment, including mobile cranes, and various infrastructure upgrades. Capacity of the Ngqura Container Terminal will also be increased to two million TEU by 2018-19.
Source Shipping Gazette - Daily Shipping News
The magazine SEA has been published since 1935
International business magazine JŪRA MOPE SEA has been published since 1999
The first magazine in Eurasia in the four languages: English, Chinese, Russian and Lithuanian
|
|