Transnet signs major deal with DBSA

TRANSPORT and freight logistics parastatal Transnet has signed a multibillion-rand deal with the Development Bank of Southern Africa (DBSA) to provide funding and expertise for its private sector participation programme.

The agreement, which was signed on Friday, will pave the way for the bank to share in project preparation funding contribute to financial and management skills and capacity, and provide indicative terms and amounts to expedite the funding of the programme.

Although both the bank and Transnet could not disclose the exact value of the agreement, the utility’s chief executive Siyabonga Gama said it would involve the bank providing strategic support for Transnet projects, including the manganese common user loading facility in the Northern Cape, the Grootvlei coal loading structure in Mpumalanga and the Tambo Springs inland container terminal to be built in Ekurhuleni.

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