Fikile Mbalulua, Minister of Transport, has announced plans to unveil Durban Port expansion investment. According to the minister of transportation’s office, the planned investments will likely contribute significantly to the expansion of the ocean’s economy and the execution of the marine transport strategy. Liquid bulk operating licenses, access rights for the Risk Mitigation Independent Power Producer Procurement Programme (RMIPPPP), and the construction of an onshore liquefied natural gas (LNG) regasification facility are just a few of the investments that Mbalula has approved so far.
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Unveiling of the Durban Port Expansion Investment Plan
The minister’s initiatives will serve as a catalyst for attracting investments in the creation of new world-class infrastructure and enhancing the port’s competitiveness as vital drivers of economic growth. After launching Request for Information (RFI) solicitations for possible private sector investment partners in August of last year, Transnet proceeded along with its R100 billion development plans for the Port of Durban.
Following the separation of Transnet National Ports Authority (TNPA) from the group, Public Enterprises Minister Pravin Gordhan said it was the second stage of structural changes to encourage investment. According to Gordhan, it demonstrates the government’s dedication to increasing the efficiency of its logistical system. Gordhan stated in August of last year that TNPA hopes to release a new Request for Information by October of this year to determine market interest for the construction of the Durban point port.
Transnet launched two Requests for Information this week to explore the possibility for investment in the port terminals in Durban and Ngqura, which is the second significant reform area. According to Transnet executives, the expenditure was made to address congestion at the port, which was reducing turnaround times and harming corporate outputs. Because of some of these concerns, the Durban Port has received worse ratings.
