Former Transnet electrical engineer Francis Callard is giving testimony at the state capture commission.
He told the commission about the irregular procurement of 100 locomotives from China South Rail (CSR) for the coal line.
Speaking to Ray White on the Xolani Gwala show, Eyewitness News senior reporter Barry Bateman says those who captured Transnet fiddled with numbers to create false expectations.
A business case was put together and he (Francis Callard) was asked to review it. When he started looking at it he found several inconsistencies.— Barry Bateman, Senior reporter - Eyewitness News
The total cost of the purchase of the trains was R38b. When the cost calculation was made factors relating to forex escalation and hedging escalation was built into the R38b. However, when the R38b cost calculations were adopted by the board it was explicitly stated that those escalation calculations were excluded.— Barry Bateman, Senior reporter - Eyewitness News
Listen to the full interview below...