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/ 23 April 2008

Transnet hit by powers cuts

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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/ 13 September 2007

Transnet to build Durban-Jo’burg pipeline

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.

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/ 23 July 2007

Transnet unveils new image

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.

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/ 26 June 2007

Transnet operating profit up 15%

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.

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/ 19 June 2007

Transnet sells housing loan book to FirstRand

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.