South Africa - Transnet Limited - Revised Lending Terms - Amendment to Resolution P/ZA/2010/14

The project involves contributing to the financing of Transnet’s five-year Capital Investment (or Capacity Expansion) Program to allow the company to increase its freight capacity and throughput via pipelines, ports, and rail. This will be achieved through the rehabilitation, upgrading, and expansion of its transportation infrastructure with a view to improving South Africa’s efficiency and competitiveness, thereby boosting the sustained economic growth of the country. The five-year Capital Investment Program will cost ZAR 99.36 billion, with 67% being disbursed over the first three years (2010-2013). The expansion program has multiple components, with 53% of the total investment going to the Freight Rail division for rail-related improvements and expansion.