Parastatal Transnet has rejected a report that it has sold off a vast area of Table Bay, including a portion of Robben Island, to foreign investors.
Transnet secretly sold prime Cape Town coastal land and a vast sea area when it offloaded the V&A Waterfront for R7-billion to investors from London.
State-owned freight transport and logistics company Transnet is ready to move away from its turnaround strategy towards a growth strategy.
Power cuts are hitting Transnet’s service, its chief executive, Maria Ramos, announced in Johannesburg on Wednesday. The power cuts are a problem, particularly as far as the company’s expansion projects are concerned, she said. ”We were affected and we are from time to time affected by the power issues — like everybody else.”
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/ 28 November 2007
A sacked Transnet human resources manager who took her case all the way to the Constitutional Court will have to start again by seeking arbitration, the court ruled on Wednesday. Petronella Chirwa worked as a human resources manager for the Transnet pension-fund business unit.
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/ 13 September 2007
Transnet Pipelines has been given the go-ahead to construct a petroleum pipeline from Durban to Gauteng, the National Energy Regulator of South Africa (Nersa) said on Thursday. Expected to cost R11-billion to build, it will carry petrol and diesel and is expected to come into use in the third quarter of 2010, said spokesperson Wanda Langenhoven.
State utility Transnet unveiled its new brand positioning and corporate-identity strategy in Johannesburg on Monday. Company group chief executive Maria Ramos told reporters that the company had come up with a new one-brand image with its different operations falling under it.
Construction company Group Five has won a R1,8-billion contract from Transnet to widen Durban’s harbour by 100m and to increase the depth by six metres. Working with Belgian company, Dredging International, Group Five Civil Engineering is responsible for the civil portion of the contract, valued at R1,1-billion.
South African transport utility Transnet on Tuesday reported a 15% increase in operating profit to R10,7-billion in the year ended March. Revenues grew by 8% to R28,2-billion, fuelled by strong volume growth across most of the company’s operating divisions. Earnings before interest, tax, depreciation and amortisation grew 12% to R11,5-billion.
Transnet has sold its housing loan book to the FirstRand group for R1,4-billion, its chief executive, Maria Ramos, announced in Johannesburg on Tuesday. Ramos said the sale of the non-core asset — which had been in process since October 2006 — was part of the company’s turnaround strategy that focused on freight transport.