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Johannesburg - Logistics group Transnet said on Tuesday it planned to raise R35bn ($5.06bn) over three years to fund capital expenditure.
The state-run firm has embarked on a massive infrastruture programme to upgrade its rail network for iron ore, coal and fuel and plans to spend R93bn over five years.
Transnet said most of its borrowing would be from the domestic bond market, although a newspaper reported earlier this month that the company was considering a $1bn bond.
For the six months to the end of September, the company said it had increased its profits before interest, tax, depreciation and amortisation by 11.7% compared to a year ago to R7.4bn, despite the impact of a 17-day strike earlier this year.
Transnet said its performance had improved since the strike, which disrupted preparations for the soccer World Cup in June, with record quantities of coal and iron ore being transported in in two weeks in September.
The company said it was on track to raise its iron export line capacity to 61 million tons by 2012/13 from a current 47 million tonnes.
The state-run firm has embarked on a massive infrastruture programme to upgrade its rail network for iron ore, coal and fuel and plans to spend R93bn over five years.
Transnet said most of its borrowing would be from the domestic bond market, although a newspaper reported earlier this month that the company was considering a $1bn bond.
For the six months to the end of September, the company said it had increased its profits before interest, tax, depreciation and amortisation by 11.7% compared to a year ago to R7.4bn, despite the impact of a 17-day strike earlier this year.
Transnet said its performance had improved since the strike, which disrupted preparations for the soccer World Cup in June, with record quantities of coal and iron ore being transported in in two weeks in September.
The company said it was on track to raise its iron export line capacity to 61 million tons by 2012/13 from a current 47 million tonnes.
