Public Enterprises Minister, Lynne Brown, has suggested that other state-owned companies can take a leaf out of Transnet's book when it comes to operational efficiencies.
The Minister was speaking to the media during a visit to the Port of Ngqura on Monday where Transnet unveiled a fourth container terminal berth at the harbour situated in the Coega Industrial Development Zone.
Responding to a question about lessons to be learnt from Transnet's operations at Coega, the Minister had the following to say.
"Just the fact that they bought 18 more of these huge machines and I drove past where they were maintaining 5 of them at the same time, so it means that you can take plants off for maintenance and I think that s a lesson for many state own entities. Always have a reserve, because if you have a reserve, you will make provision for any eventualities."
Minister Brown also described the Coega Harbour project as a success story for government.
"This is a real case of a success story for one of our state owned companies Transnet, it does mean, more jobs, greater economic risk. It does also mean that there is greater efficiency. The port has been known to be one of the most efficient in the world, and I think this is something that can make us very proud as South African's." said Brown.
Meanwhile, Transnet CEO Brian Molefe says in terms of the market demand strategy, the investment was about R12 billion over the last three years.
"The total investment in the Eastern Cape will be about R30 billion, rail and ports. The total investments in ports over the market demand strategy period is about R90 billion, R210 billion goes to rail and the rest is for ports." said Molefe.
Eastern Cape Premier, Phumulo Masaulle applauded Transnet for its success and thanked the company for its commitment and confidence in growing the economy of the Eastern Cape.
