US bank to support Transnet loco deal

[miningmx.com] – TRANSNET received a funding boost after the Export-Import Bank of the United States (Ex-Im Bank) said it would provide R1.1bn in funding to Transnet for it to purchase 53 American-made GE locomotives.

This brings total funding by Ex-Im Bank to R2.2bn following an earlier deal in which Transnet bought 47 GE locomotive kits in February, 2011.

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