Transnet National Ports Authority said it signed a 25-year concession agreement with FFS Tank Terminals for the operation and maintenance of a liquid bulk terminal at Cape Town port. The deal includes an investment plan of 195.7 million rand ($11.4 million) over the first three years.
The agreement covers refurbishment and modernization of the terminal to boost efficiency. Diesel storage capacity will double to 29,200 cubic meters, while bitumen storage will rise from 4,700 to 6,900 cubic meters. Overall storage capacity will expand by 47%, raising throughput at Cape Town port.
Transnet has already granted concessions for several other port facilities to private operators. The government aims to attract investment to increase capacity and improve supply for local industries.
South African ports have been ranked among the world’s least efficient by the World Bank. In its Container Port Performance Index, published in September with S&P Global Market Intelligence, the institution placed Cape Town 43rd out of 46 African ports studied, although it noted some improvements.
Analysts point to underutilization of the national rail network as a major cause of inefficiency. Once the backbone of port logistics, the system has been weakened for years by aging infrastructure and widespread vandalism.
This article was initially published in French by Henoc Dossa
Adapted in English by Ange Jason Quenum
The Bank expects a 41% rise in 2025 and a further 6% increase in 2026. Gold topped $4,00...
Social media users accuse the UAE of backing Sudan’s RSF militia. Activists and celebrities c...
Africa is projected to supply up to 9% of the global rare earths market thanks to announced mines, p...
Ghana holds talks to address energy debt and tighten sector oversight New inspector, stricter...
COBAC raises bank capital requirement to 25 billion CFA francs from 10 billion Compliance dea...
U.S. adds uranium to critical minerals list, now totaling 60 substances Move reflects rising nuclear fuel demand and supply chain concerns U.S....
Chad unveils $30B "Chad Connection 2030" plan to cut poverty, boost growth Strategy includes 268 projects across infrastructure, social,...
Sonko rejects IMF-backed debt restructuring, calls it national humiliation IMF suspended $1.8B program amid $11B hidden debt, 132%...
May Daphné Ngallé-Miano named CEO of Chanas Assurances for 3 years Tasked with company recovery amid ongoing restructuring and competitive...
Timkat, celebrated each year in Ethiopia, marks the feast of Epiphany in the Ethiopian Orthodox Church. It commemorates the baptism of Christ in the River...
The Namib Erg, also known as the Namib Sand Sea, is one of the most ancient and spectacular desert landscapes on Earth. Stretching along Namibia’s...