South Africa: Over U.S.$5,2 Billion Needed For Transnet's Turnaround Plan

[allAfrica] Harare -- Transnet, a pipeline, rail, and port enterprise owned by the South African government, is asking Treasury for more than U.S.$5,2 million (R100 billion) over the course of the next two years, according to Engineering News. The U.S.$5,2 million comprises a proposal that the Treasury assume responsibility for at least U.S.$3 billion (R61 billion) of its debt and give U.S.$2 billion (R47 billion) in equity in the form of a subordinated loan, that in the event that performance goals are met, can be