Freight logistics group Transnet has concluded a R1.8-billion property deal with fellow State-owned Company (SoC) Airports Company South Africa for the acquisition of the former Durban International Airport (DIA) site, which Transnet aims to develop into a new port over the coming years.
Transnet National Ports Authority (TNPA) previously its plans to pursue a so-called ‘dig-out port’ at the DIA site and that the project is likely to involve an initial investment of some R50-billion.
TNPA , in collaboration with the private sector under its “private sector participation” (PSP) scheme will work on the project. In an interview, Transnet CE Brian Molefe said: “The biggest PSP that will ever happen in this country is going to be on the DIA site . . .”.
The project will take 10 to 15 years to develop, but Molefe expects the first shovel in the ground within “five to six years time”.
Terence Creamer, Engineering News
Full Article: http://www.engineeringnews.co.za/article/transnet-mulls-durban-dig-out-port-partnerships-confirms-r18bn-land-deal-2012-04-10
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