Transnet SOC Ltd.’s funding requirements for fiscal 2014 will increase 12 percent as the company invests in new infrastructure and equipment, Chief Executive Officer Brian Molefe said today.
Transnet plans to invest 300 billion rand over seven years to add new rail lines, ports, pipelines and improve infrastructure in Africa’s biggest economy. The company will need funding for about 86 billion rand, according to Molefe.
“We are quite happy with where we stand in the market at the moment,” he said, with investor perception being “very good.”
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