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Cape Town - Public Enterprises Minister Malusi Gigaba said on Friday that R5.4bn has been budgeted over the next five years for the expansion of the Cape Town Container Terminal.
He said an efficient, competitive and responsive economic infrastructure network was important to lessen constraints holding back economic development.
"In this regard, the massive recapitalisation programmes of Transnet have the potential to become a major driver for economic growth in South Africa," he said at the handover ceremony of the Cape Town Container Terminal.
In addition to the impact on the economy, the recapitalisation programmes could also make a significant contribution to the achievement of the goals of the government's new growth path, in particular on socio-economic factors such as job creation and skills development.
"With this milestone we are witnessing today, we are taking this facility a step closer towards doubling its capacity by 2012 in line with growing global demand for containerised cargo."
Gigaba said the capacity and efficiency of container terminals were highly strategic to both the national and city economy.
"The efficiency of our container terminals will determine the capacity for international trade and will either enhance our competitiveness in engaging in trade or exacerbate our locational disadvantages."
He said the efficiency of the container terminal would determine the speed at which container ships turned around at the port.
"Container ships waiting in queues outside our ports are extremely expensive to shippers and create a negative perception of the efficiency of our economy...an efficient port enhances our national reputation."
He said the Cape Town Container Terminal should be made a destination of choice for the major shipping companies through providing an efficient and reliable service and an extremely speedy turn-around.
He said an efficient, competitive and responsive economic infrastructure network was important to lessen constraints holding back economic development.
"In this regard, the massive recapitalisation programmes of Transnet have the potential to become a major driver for economic growth in South Africa," he said at the handover ceremony of the Cape Town Container Terminal.
In addition to the impact on the economy, the recapitalisation programmes could also make a significant contribution to the achievement of the goals of the government's new growth path, in particular on socio-economic factors such as job creation and skills development.
"With this milestone we are witnessing today, we are taking this facility a step closer towards doubling its capacity by 2012 in line with growing global demand for containerised cargo."
Gigaba said the capacity and efficiency of container terminals were highly strategic to both the national and city economy.
"The efficiency of our container terminals will determine the capacity for international trade and will either enhance our competitiveness in engaging in trade or exacerbate our locational disadvantages."
He said the efficiency of the container terminal would determine the speed at which container ships turned around at the port.
"Container ships waiting in queues outside our ports are extremely expensive to shippers and create a negative perception of the efficiency of our economy...an efficient port enhances our national reputation."
He said the Cape Town Container Terminal should be made a destination of choice for the major shipping companies through providing an efficient and reliable service and an extremely speedy turn-around.
