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Artikel Nummer: 12652

South Africa secures funding guarantee from China

Transnet and China Export Credit Insurance have agreed a USD 2.5 billion funding guarantee, which should be preferably used for railway, ports and pipeline projects in South Africa.


The guarantee helps Transnet to finance its infrastructure investment programme that includes the acquisition and maintenance of its locomotive fleet. Chinese companies have won bids to supply rolling stock and equipment to Transnet. 


In April 2014, Transnet awarded contracts to China South Rail Zhuzhou Electric Locomotive and China North Rail Rolling Stock to build 359 electric and 232 diesel locomotives respectively. (ben)




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