President of South Africa, Cyril Ramaphosa, said today that the government plans to greatly expand the capacity of Durban’s port and rebuild state-owned enterprise Transnet.
In his open letter to the public, Ramaphosa said that the new management of Transnet and its operating divisions are resolutely focused on turning the performance of the port around.
“The management has ambitious and exciting expansion plans for all five of the port’s precincts,” the President said.
“These include the deepening of the Maydon Wharf channel to allow larger, modern vessels to enter the port, the infill of Pier 1 and Pier 2 to create additional capacity for containers, and the development of a new container terminal in the Point Precinct.
“Altogether, the expansion of infrastructure at the port will require R100 billion in new investment over the next decade and more. This will completely transform the port, expanding its capacity for container handling from 2.9 million units to more than 11 million units.
“These ambitious plans will require greater private sector participation and investment. Transnet, including the Durban Port, is an important national asset belonging to the people of South Africa.”
“Partnerships with the private sector are crucial to bring new investment, technology and expertise to port operations and to modernise equipment and infrastructure. Transnet is planning, for example, to advertise a concession later this year to build and operate the new Point Terminal. This will bring in private investment and improve the efficiency of container handling.”
Through both operational improvements and structural reforms, Durban Port will reclaim its place as the best-performing port in Africa, concluded Ramaphosa.