Transnet Port Terminals (TPT) said on Tuesday it was in talks with the agricultural sector and Department of Agriculture, Forestry and Fisheries to raise an additional R250 million needed to bolster a grain facility in East London.
TPT is spending R20 million out of R1.3 billion capital expenditure in its current financial year to enhance investment and service levels. Transnet transports maize and wheat to various Southern African countries.
Speaking at the TPT/South African Chamber of Commerce and Industry's annual business to business networking breakfast in Johannesburg, TPT CEO Karl Socikwa said: “The level of investment required in freight transport infrastructure needs public private partnership. We can't sustain that on our own,” Socikwa said.
Socikwa said the company had handled more containers in the year to date compared with the corresponding period a year ago. Volume performance has been “strong” in all major cargo categories.
Transnet accelerated the acquisition of seven tandem lift ship-to-shore cranes for the terminal, which would be installed in the second half of next year. Socikwa said plans were on track to expand capacity in the Ngqura Container Terminals. The planned expansion included the acquisition of container handling equipment.
The company also implemented a terminal operating system called Navis to modernise operations. - I-Net Bridge