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Johannesburg - The Passenger Rail Agency of SA (Prasa) is
planning a R15bn black economic empowerment (BEE) programme as part of its plans to
modernise Metrorail, Business Day reported on Wednesday.
Metrorail's fleet of commuter coaches would be modernised, in what will rank among the top five empowerment deals that have been
concluded.
Prasa told the newspaper that a minimum of 30% equity for
black investors would be required for a project company that would be
established to manufacture the coaches in South Africa.
More details on how black investors would be selected would
be released on September 25, and the selection process was expected to be
completed by the end of January, Prasa manager Piet Sebola was quoted as
saying.
Prasa CEO Lucky Montana said there was no turning back on
the programme to buy modern train technology and manufacture commuter
coaches locally .
"Any attempt to undo what we have started would cause a
collapse of the commuter rail system," Montana said, commenting on attempts
by "some rolling stock manufacturers and some people in the black business
environment - not necessarily the BBC (Black Business Council)," to delay
the implementation of the programme.
In June, the BBC attacked Prasa's approach to empowerment,
calling it "dangerous".
BBC secretary general Sandile Zungu said it fed into stereotypes that "black economic empowerment is about handouts".
