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