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Ramaphosa calls on the private sector to invest in the port of Durban

Through Siphelele Dludla 17 min ago

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JOHANNESBURG – PRESIDENT Cyril Ramaphosa yesterday called on the private sector to join forces with the government to increase investment in port and rail infrastructure in the port of Durban.

In his weekly bulletin yesterday, Ramaphosa said that expanding Durban’s port infrastructure will require R100 billion in new investment over the next decade.

He said the investment would be needed to expand the port’s container handling capacity from 2.9 million units to over 11 million units per year.

“In total, the expansion of the port’s infrastructure will require R100 billion in new investments over the next decade and more,” Ramaphosa said.

“This will completely transform the port, increasing its container handling capacity from 2.9 million units to over 11 million units.”

Ramaphosa said these ambitious plans would require greater involvement and investment from the private sector, and improve efficiency in container handling.

“Partnerships with the private sector are essential to bring new investments, technologies and skills to port operations and to modernize equipment and infrastructure,” he said.

“Transnet plans, for example, to announce a concession later this year to build and operate the new Point Terminal.”

Ramaphosa last week conducted a monitoring visit to the port to assess the progress made since 2019 in improving the efficiency and competitiveness of the facility.

Shipping companies complain about truck congestion and waiting times, ship docking delays and anchoring times, poor equipment maintenance and generally low productivity at the port.

It comes as the National Ports Authority of Transnet prepares to move its headquarters from Durban to Ngqura Port in Gqeberha with the aim of saving R25 million per year on rental contracts.

The head office of Transnet was jointly owned by Durban and Johannesburg.

The provincial government, business community and workers’ unions in Durban criticized this proposed Transnet decision because they were concerned about the port’s future plans.

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Ramaphosa calls on the private sector to invest in the port of Durban

Source link Ramaphosa calls on the private sector to invest in the port of Durban

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