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Johannesburg - Logistics group Transnet said on Monday it has raised the money it needed for plans to expand railways, ports and pipelines.
The state-owned company said its seven-year infrastructure investment programme, now in its third year, will cost R312.2bn, up from R307.5bn previously.
The group said in a statement that its profit for the year to the end of March rose 25% to R5.2bn while capital investment for the period increased 15.6% to R31.8bn.
The company said it did not expect a ratings downgrade in mid-June by Standard & Poor's, received in line with a national downgrade, to affect its borrowing capabilities as it was not below investment grade.
The state-owned company said its seven-year infrastructure investment programme, now in its third year, will cost R312.2bn, up from R307.5bn previously.
The group said in a statement that its profit for the year to the end of March rose 25% to R5.2bn while capital investment for the period increased 15.6% to R31.8bn.
The company said it did not expect a ratings downgrade in mid-June by Standard & Poor's, received in line with a national downgrade, to affect its borrowing capabilities as it was not below investment grade.
