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Transnet tracks up for grabs

James-Brent Styan | Thu, 10 Sep 2009 09:54
[miningmx.com] -- UP to 7,300 km of Transnet's almost 20,000 km of rail network will be sold to the private sector on a concession basis.

Transnet announced these details on Tuesday in a submission to the Parliamentary Portfolio Committee for Public Enterprises after previously announcing it had such plans.

Minister of Public Enterprises Barbara Hogan has already given her approval in terms of the Public Finance Management Act.

"The process needs only to be ratified by cabinet, after which the first tenders can be published."

"We expect this could take place by year-end or early next year," Chris Wells, acting chief executive of Transnet, told Sake24 earlier.

Transnet spokesperson John Dludlu says the company hopes to put the tracks involved out on tender from January 2010.

Transnet's rail network in South Africa consists of a core of 12,800 km and 7,300 km of branch lines.

Of these branch lines 3,350 km have been shut down, and no activity is currently taking place.

- Sake24.com




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