In a bid to prepare for the projected 4% annual increase in container volumes, South Africa has announced a plan to invest US$3.2 billion in to boost capacity at its major ports, according to JOC.com.
By 2046, total capacity demand for the nation’s major ports is set to rise to more than 492 million tonnes.
PTI previously reported that South African freight and logistics company Transnet had completed a more than US$56 million expansion at the City Deep Container in Johannesburg.
The company also recently announced that it is partnering with the Development Bank of Southern Africa (DBSA) in order to drive private sector participation in the country.
As a country, Africa is on the brink of a massive change, as there are multiple infrastructure projects either taking place or in the planning phase.
APM Terminals announced in mid-2015 that it is looking to invest $1.5 billion, as part of a joint-venture with Bolloré Africa Logistics and the Ghana Ports and Harbour Authority.
This project will involve the development of a new 3.5 million TEU container hub, which will be located at the Port of Tema.
The world’s largest conglomerate Maersk, was also looking to secure contracts to build and upgrade ports in both Nigeria and Kenya.
In a bid to bring about an industrial revolution, it was recently announced that a $10 billion project is to be carried out through the construction of the Bagamoyo Port in Tanzania.