Yesterday saw the signing of a memorandum of understanding (MoU) by Transnet National Ports Authority (TNPA), Richards Bay Industrial Development Zone (RBIDZ) and uMhlathuze Municipality ahead of Transnet’s planned R7.5 billion investments in Richards Bay over the next five years.
“Transnet will be investing R145.4 billion over the next five years nationally into existing port, rail and pipeline operations in order to sustain existing freight transportation capacity and create new capacity ahead of demand to facilitate growth in the South African economy,” said TNPA chief executive, Shalumi Qalinge. “Of this total infrastructure investment, R18.9 billion is allocated to KZN, of which R7.5 billion is for projects in Richards Bay.”
A total of 45 projects have been budgeted for in Richards Bay over the next five years including the port expansion project, the conversion of Berth 702, the Bayview rail yard expansion and improvement to the export coal line transporting coal from Mpumalanga to the port.
“Through various mechanisms outlined in today’s MoU, we can begin to address some binding constraints and to unlock the potential of the local economy – with the commensurate projected growth in our GDP and job creation along our coastal cities and towns,” said Transnet chief executive, Siyabonga Gama.
Issues to be covered under the MoU include transportation, planning, traffic management and safety and security.
“It will assist the three partners to collectively focus on development projects taking place in the city by allowing the exchange of information, intelligence and best practices that will drive the growth of the city into an active industrial hub,” added RBIDZ CEO, Pumi Motsoahae.
