Transnet refutes misleading aspersions

Transnet “has noted with concern misleading and mischievous reports” over the weekend of March 22/23, 2014 intended “to cast aspersions on the integrity and vigour” of the process the company followed in awarding contracts for the supply of 1,064 electric and diesel locomotives.

Transnet wishes to confirm that it has absolute confidence in the open and competitive process it ran which resulted in the award of South Africa’s biggest infrastructure investment contract. The process complied with the highest standards of good governance which was overseen and signed off by a firm of independent internal auditors.

The process was supervised by the Board of Directors through a sub-committee – the Board Acquisitions and Disposals Committee which is made up of independent non-executive directors.