SA rail needs R97bn investment

South Africa’s rail network needs investment of R97-billion to radically change the way South Africa travels, Transport Minister Sibusiso Ndebele said on Tuesday.

“Let us be clear, the coffers of the state are not sufficient to fund such a large programme. Therefore, a significant and sustained commitment from local and international financiers will be required to complete the rolling stock renewal programme,” he said.

Ndebele was speaking at the Passenger Rail Agency of South Africa’s (Prasa) market engagement at Gallagher Estate, in Johannesburg.

He said that the upgrade was needed as South Africa’s rail system was outdated, relying on 1956 technology.

Improved safety, reliability, productivity, employment creation and increased economic activity were some of the benefits of the proposed upgrade, said Ndebele.

It would create up to 100 000 skilled and semi-skilled jobs over 18 years.

He said tax and grant-based incentives would be offered to investors.

Additionally, the Industrial Development Corporation (IDC) would offer loan incentives in the form of mezzanine financing to qualifying industrial investors.

Ndebele said Tuesday’s market engagement was an integral part of the development of a feasibility study for new rail rolling stock and would help to establish rail as the “backbone” of public transport. — Sapa

Staff Reporter
Guest Author
Advertisting

Salie-Hlophe accuses Goliath of lying and racism

In response to Goliath’s gross misconduct complaint, Salie-Hlophe says Goliath has ‘an unhealthy obsession with my marriage’

Treasury is still seeking SAA funds

The government has committed an additional R2-billion to the airline, but has yet to pay it out

‘There were no marks on his neck’, Neil Aggett inquest...

The trade unionist’s partner at the time he was detained at John Vorster Square says she now believes his death was not a suicide
Advertising

Press Releases

Boosting safety for cargo and drivers

The use of a telematics system for fleet vehicles has proved to be an important tool in helping to drive down costs and improve efficiency, says MiX Telematics Africa.

Silencing the guns and firearms amnesty

Silencing the guns and firearms amnesty

Gender-based violence is an affront to our humanity

Gender-based violence is an affront to our humanity

UK-Africa investment summit 2020: Think Africa Invest SA

UK-Africa investment summit 2020: Think Africa Invest SA

MTN unveils TikTok bundles

Customised MTN TikTok data bundles are available to all prepaid customers on *136*2#.

Marketers need to reinvent themselves

Marketing is an exciting discipline, offering the perfect fit for individuals who are equally interested in business, human dynamics and strategic thinking. But the...

Upskill yourself to land your dream job in 2020

If you received admission to an IIE Higher Certificate qualification, once you have graduated, you can articulate to an IIE Diploma and then IIE Bachelor's degree at IIE Rosebank College.

South Africans unsure of what to expect in 2020

Almost half (49%) of South Africans, 15 years and older, agree or strongly agree that they view 2020 with optimism.