State-owned logistics and freight firm Transnet will pocket a 30 billion rand ($2 billion) loan from the China Development Bank to improve its ageing train fleet, its acting chief executive said on Thursday.
Siyabonga Gama told a news conference on sidelines of World Economic Forum for Africa in Cape Town that 18 billion rand of the loan amount had already been transferred to the state utility.
Transnet receives 30billion rand loan from Chinese bank
State-owned logistics and freight firm Transnet will pocket a 30 billion rand ($2 billion) loan from the China Development Bank to improve its ageing train fleet, its acting chief executive said on Thursday.
Siyabonga Gama told a news conference on sidelines of World Economic Forum for Africa in Cape Town that 18 billion rand of the loan amount had already been transferred to the state utility.