Huge investment needed in SA transport sector
15 June 2011
Massive investment is needed in South Africa's ageing rail, road and maritime infrastructure, the nation's transport minister has claimed.
Sibusiso Ndebele believes that finance totalling R200 billion (£18 billion) is required in order to allow the country to successfully compete in international markets.
"We understand that the country's fiscus cannot be in a position to fund the entire needs of the transport sector," he said in Cape Town at the opening of an international investors' conference.
As such, he noted that partnerships between state-owned enterprises and the private sector were essential to unlock the level of investment required.
"It is important to find a new impetus in investments into our sector in order to completely modernise our transport system so that our economy is able to be internationally competitive," Mr Ndebele confirmed.
The transport minister added that historical under-investment, coupled with poor maintenance, outdated systems and a lack of integration had impacted negatively on the country's transport network.