[miningmx.com] – SOUTH African transport and logistics company, Transnet, has secured a R6bn funding guarantee for the purchase of diesel locomotives, a development described by CEO, Brian Molefe, as “a massive thumbs-up”.
Molefe said the guarantee, which was provided by US export credit agency, US-Exim, affirmed Transnet’s credit worthiness as well as South Africa’s attractiveness as an investment destination.
The guarantee is mainly intended for the supply of 233 locomotives from General Electric, the US conglomerate. “The guarantee from US-Exim enables Transnet to raise funds in the markets for the financing of the GE locomotive transaction,” said Molefe.
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