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Durban - Logistics group Transnet will in the next three months tap into the global debt market to raise $1bn to support its continued infrastructure investment projects.
"This is the best time for SA borrowers to raise money at record low interest rates and cheaper currency due to rand strength," said Transnet acting CEO Chris Wells.
The money will be in addition to the R6bn cash and other unused funding facilities already available to Transnet. The company is in the middle of a R95bn capital investment project, which is to be completed in 2015.
A major part of the investment programme is a 700km multiproduct pipeline to transport fuel from Durban to the inland market. Wells said the pipeline, which will cost R15.5bn, will be commissioned in phases from December 2011 until completion in December 2013.
- Fin24
"This is the best time for SA borrowers to raise money at record low interest rates and cheaper currency due to rand strength," said Transnet acting CEO Chris Wells.
The money will be in addition to the R6bn cash and other unused funding facilities already available to Transnet. The company is in the middle of a R95bn capital investment project, which is to be completed in 2015.
A major part of the investment programme is a 700km multiproduct pipeline to transport fuel from Durban to the inland market. Wells said the pipeline, which will cost R15.5bn, will be commissioned in phases from December 2011 until completion in December 2013.
- Fin24
