Transnet’s plans to boost freight rail capacity include a feasibility study on a rail ring around greater Johannesburg to reduce delays, media reports said on Thursday. Moira Moses, the group executive for Transnet projects, said in a presentation: ”We want to build a new hub [to replace City Deep].” This proposal still needs to be presented to the Transnet board.
Transnet pensioners and their beneficiaries will receive bonuses totalling R125-million at the end of July, Transnet group chief executive Maria Ramos announced on Wednesday. The bonus will be paid and funded solely from Transnet’s resources.
Transnet is to sell its fleet-management and leasing business Viamax Holdings to the Bidvest Group for about R1-billion. The move signalled further progress in transforming the state-owned enterprise into a freight-transport company, Transnet said in a statement on Thursday.
South African services group Bidvest has agreed to buy Asia-based Angliss Foodservice for about -million and a local fleet management firm for ,3-million, the company said on Thursday. Bidvest said it had agreed in principle to acquire state-owned rail utility Transnet’s fleet management and leasing business Viamax Holdings for R1-billion.
South African transport utility Transnet on Wednesday launched the sale process for the Blue Train — the group’s hotel-on-wheels train. The disposal is part of Transnet’s transformation into a focused freight transport and logistics company. In terms of the competitive public-bidding process, launched on Wednesday, investors are being invited to express their interest.
Transnet and the government are facing an R8-billion legal claim from prominent businessman Sandile Zungu over a soured deal involving the sale of 80-million shares in cellphone company MTN, media reports said on Friday. The dispute arose after Transnet said in 2004 that it had picked Zungu’s company from 10 other bidders to buy the shares from Transnet.
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/ 13 February 2007
South African state-owned rail group Transnet and power utility Eskom on Tuesday invited offers for the purchase of IT firm arivia.kom, the groups said. Transnet and Eskom invited interested bidders to submit an expression of interest by March 14 as part of the bidding process for arivia.kom. The winning offer will also secure five-year outsourcing contracts with Transnet and Eskom.
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/ 30 November 2006
Rail, port and pipeline company Transnet has reported strong results for the first half of this financial year. Revenue was up 9% to R14,4-billion and operating profits up more than 7% to R4,6-billion, the parastatal announced in a statement on Thursday.
Transport parastatal Transnet on Tuesday reported a massive 57% jump in profits from continuing operations to R8,5-billion for the year ended in March 2006. This represented an increase of R3,1-billion — achieved on the back of a 7% growth in revenue to R26,3-billion.
The United Association of South Africa has accused Transnet of intimidation after a witness in a disciplinary case against 14 of its members was arrested during the hearing in Johannesburg on Friday. The man, who had been called to testify in defence of 16 Transnet employees, was arrested by police during a recess in the hearings.