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Transnet Starts Drilling for Durban Port Feasibility Study

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April 29 (Bloomberg) -- Transnet SOC Ltd., South Africa’s state-owned port and rail authority, yesterday started drilling near Durban on the country’s east coast in a feasibility study for a new port that may cost as much as 100 billion rand ($11 billion).

“We are looking at the option of partnerships and we are looking at a build, operate and transfer model,” Chief Executive Officer Brian Molefe told members of the Wentworth community, south of Durban today. “At the moment we are testing expressions of interest, but even if there is no interest it will still go ahead.”

The plan is one of 18 designated Presidential Strategic Infrastructure Projects and is part of Transnet’s 300 billion rand investment plan to upgrade and expand port and rail infrastructure.

Residents of Wentworth are opposed to the project that will require them to be relocated to make room for the port and related services.

To contact the reporter on this story: Niki Moore in Johannesburg at nmoore19@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net

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