Transnet released results saying capital investment for the year increased by 5.7% to an unparalleled R33.6 billion.
Rail accounted for 74% of the total as Transnet accelerated its spending on modernising its rail infrastructure.
The company invested R14.5 billion on growing capacity and R19.1 billion in maintenance of existing capacity.
Scroll down to listen to the interview of Transnet acting CEO Siyabonga Gama.
Our growth is quite impressive considering how weak the economy is.— Siyabonga Gama, Transnet CEO
We have to reduce the cost of doing business in South Africa.— Siyabonga Gama, Transnet CEO
We borrow about a third of what we generate. We’re not a drain on Treasury; we borrow from our own balance sheet on the strength of our own credit rating.— Siyabonga Gama, Transnet CEO
There isn’t much disagreement between us and Prasa about the locomotives they’re testing. The rail safety regulator must make a pronouncement about it.— Siyabonga Gama, Transnet CEO