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Power cuts hit Transnet
23/04/2008 13:08 - (SA)
Johannesburg - The electricity shortage could adversely affect the volume and quality of Transnet's service, its chief executive, Maria Ramos, announced on Wednesday.
"We are working closely with Eskom in terms of ensuring the impact of power issues do not affect our operations in a major way," she said.
However she described it as one of a number of challenges to the business in the next five years and anticipated that it could lead to a lower growth rate.
Ramos said Transnet's growth rate and volumes could also be affected by, among other things, the deepening of the sub-prime credit crisis which was slowing economic growth globally.
She said the impact of these and other challenges was being closely monitored and that mitigating strategies were being implemented to address risks.
Ramos announced that Transnet planned an R80bn capital expenditure programme in the next five years.
Most of this would be spent on its freight rail division, the National Ports Authority and new pipelines.
In the past four years the company has spent R16bn, she said.
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