Transnet Plans $853 Million South African Oil, Gas Service Port
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Transnet SOC Ltd., South Africa’s state-owned logistics company, said it would develop a service facility for the oil and gas industry at the port of Saldanha Bay in the country’s Western Cape province.
The 9.65 billion-rand ($853 million) project will comprise an offshore hub that will supply food and materials, collect waste and fix rigs at the port that’s 125 kilometers (78 miles) northwest of Cape Town, Johannesburg-based Transnet said in an e-mailed statement on Monday. It will also expand a jetty to accommodate floating docks to build and repair vessels.