Transnet Freight Rail says it needs R80bn to get back on track
Transnet Freight Rail is in a crisis of falling volumes and revenue and does not have the capital to invest in its network and capital equipment.
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Transnet Freight Rail is in a crisis of falling volumes and revenue and does not have the capital to invest in its network and capital equipment.
While high coal prices have softened the impacts of lower railing volumes, the matter will become more dire if prices continue to fall.
An act of possible sabotage is costing the country R1bn a day as Transnet Freight Rail scrambles to clear 5500 tonnes of coal and access railway damage following a derailment along its main coal line on Tuesday.
'We are looking at a 22% increase in cable theft just on the container corridor over the course of the strike,' said Rudzani Ligege.
JOHANNESBURG -South African state logistics group Transnet said cable theft had spiked during a strike by its staff this month, further hobbling a freight rail service whose poor performance was...