The loan, the first rand-denominated Export Credit Agency (ECA) financing facility, is supported by Finnerva, the Finnish export credit agency and forms part of Transnet’s five-year R80 billion capital expenditure programme.
The R915m will be used to purchase straddle carriers and RTGs for the Pier 1 Container Terminal in Durban, Cape Town’s newly upgraded container terminal, and the Ngqura Container Terminal which becomes operational in October.
The supplier of all equipment for this transaction is Kalmar Industries which has provided a substantial quantity of similar equipment to Transnet in the recent past.
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