The Transnet National Ports Authority (TNPA) plans to invest R9.1 billion into various infrastructure development projects at the ports of East London, Port Elizabeth and Ngqura over the next seven years.
The TNPA’s latest investment ambitions form part of its capital investment programme, which seeks to realign Transnet with key sectors of the economy.
The Nelson Mandela Ports – Elizabeth and Ngqura – will be allocated R4.8 billion of the investment, while the port of East London will receive the remaining R4.3 billion.
“We have earmarked the port of Port Elizabeth for the automotive sector, with the port of Ngqura being positioned as a transhipment and energy hub for the southern hemisphere,” managing executive for the Central Region, Siyabulela Mhlaluka says in a statement.
The port of East London has been earmarked to service the broader automotive and industrial and agricultural sectors in the region.
“The Port of East London’s grain elevator is a key asset to the province, and this has been emphasized by the diversion of some of the agricultural cargo from Durban to the East London port,” he says
“East London is also strategically positioned for the tourism sector, a strategic objective that will be achieved by transforming the port’s real estate portfolio to integrate with the leisure market, such as the Latimer’s Landing Waterfront development.”
The first investment injection of R570 million will be made during the 2022/2023 financial year.
This first instalment will go towards the relocation of the tank farm from Port Elizabeth to Ngqura, as well as phase 1 of the Ngqura Manganese Export Terminal development, conducting a feasibility study for the reconstruction of East London’s Quay 3 and the construction of a slipway at the Port of Port Elizabeth.
“We are continuously creating an enabling and performance-driven environment that unlocks bottlenecks and accelerates the execution of strategic projects through the establishment of regional and national capital investment war rooms, where project sponsor engagement is relevant and influential in enabling the project team. This approach will ensure that TNPA delivers on its capital investment commitments in the region,” Mhlaluka says.
Read:
Transnet reopens Durban rail container corridor damaged by floods
Spiralling fuel prices a threat to TNPA’s liquid bulk volume targets
Karpowership slates SA government over project delays
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsBit.us is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
