Transnet to borrow $12.9 bln to pay for new capex MyZA

JOHANNESBURG Feb 20 (Reuters) – South African
logistics group Transnet will have to borrow 100
billion rand ($12.93 billion) over the next seven years to pay
for an accelerated 300 billion rand capital investment
programme, its chief executive said on Monday.

Transnet, which moves commodities such as coal, iron ore and
fuel, plans to nearly triple its capital expenditure from an
initial planned spent of around 110 billion rand to build and
expand infrastructure in Africa’s biggest economy.
($1 = 7.7360 South African rand)

(Reporting by Agnieszka Flak)