Railway upgrade for South Africa
29 October 2010
A South African company is planning to spend 93 billion rand (£8 billion) upgrading rail infrastructure over the next five years.
Transnet noted the scheme could end up passing the 100 billion rand mark and that 35 billion of it will be spent on upgrading its rail network in the next three years, Reuters reports.
"The state-run firm in Africa's biggest economy has embarked on a massive infrastructure programme," the news provider remarked.
Chief executive of the company Charles Wells said once a new pipeline has been completed it will hopefully reduce the number of tanker trucks on South Africa's roads by 60 per cent.
Once the projects are complete, the transfer of iron ore, coal and fuel will be a much-smoother process, the information outlet remarked.
Kunbi Oguneye, chief executive of Nigerian Internet solutions provider Suburban Telecom, recently told the Sowetan better infrastructure is needed in order to encourage economic growth.