Transnet Port Terminals (TPT) are to invest US$2.9 billion into Western Cape’s Saldanha and Cape Town port terminals as part of a US$26.8 billion infrastructure programme for South Africa over the next seven years.
The US$2.9 billion amount is being invested in order to renew terminals across the country.
The spending will be directed towards purchasing equipment, reconfiguring and upgrading facilities, and staff training for Transnet employees.
Commenting on the investment, Karl Socikwa, TPT’s CEO said: “This [the spending] will take TPT’s overall container terminal capacity from its current four million TEU to seven million TEU by 2019.”
Socikwa went on to say that the terminal infrastructure upgrade programme has reached a critical stage for TPT and the wider Transnet group.
The seven-year programme is aimed at positioning South Africa as the preferred hub in Southern Africa.
Socikwa concluded: “This [the programme] will be underpinned by a significant growth in volumes and revenues, as well as an accountable and highly skilled workforce.”