Transnet secures $2.4 billion from China Development Bank

Region:

Middle East & Africa

Jonathan Bell

Editor-in-chief

South Africa's state-run logistics and transport company Transnet has secured a ZAR30 billion ($2.4 billion) loan agreement with the China Development Bank (CDB). The funds will be used to purchase of 232 diesel and 359 electric locomotives from China North Rail (CNR) and China South Rail (SCR) respectively.

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