South Africa's High-Speed Rail Network Seeks Cash for Trains
- Country’s Development Bank leads $290 million funding round
- Plans to extend network by 150 km mulled by National Treasury
Photographer: Nadine Hutton/Bloomberg
This article is for subscribers only.
South Africa’s high-speed rail network is seeking 4 billion rand ($290 million) to increase its number of trains by 50 percent ahead of a potential expansion to other parts of Johannesburg and Pretoria.
The Development Bank of Southern Africa Ltd. is leading the fundraising, a spokeswoman said in an emailed response to questions on Wednesday. Canada’s Bombardier Inc., CRRC Corp. of China and local firm Egoli Rail are among the bidders to supply the trains, she said. The government-owned Gautrain is also planning to build a second depot.