.jpg)
22 hours ago
6
Article content
(Bloomberg) — Saudi Arabian ports operator Red Sea Gateway Terminal is considering bidding for a 25-year concession to refurbish and operate a terminal at the Port of Cape Town.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Transnet National Ports Authority is seeking a new private operator for the Duncan Dock Precinct, one of two multipurpose terminals at the port, as it looks to increase cargo-handling capacity and modernize infrastructure to accommodate growing volumes of containerized, dry-bulk and break-bulk cargo. The terminal is currently operated under a lease that expires next year.
Article content
Article content
Article content
The move is the latest effort by Transnet SOC Ltd. to turn around the port after it was ranked the world’s worst performer last year by the World Bank and S&P Global. The company, which is owned by the South African government, has also introduced a predictive wind model to curb weather-related disruptions and a digital platform to improve cargo planning to tackle equipment failures, shipping delays and other bottlenecks that have weighed on productivity.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
Fixing South Africa’s freight and logistics network is critical to reviving an economy that has expanded by less than 1% a year on average for more than a decade, with transport constraints repeatedly cited as a brake on faster growth.
Article content
RSGT, Saudi Arabia’s first privately funded terminal operator, joined a meeting of prospective bidders in Cape Town on Thursday to “evaluate participation,” said Gagan Seksaria, its director of global investments. The company, which operates the kingdom’s largest container terminal, is partly-owned by the Public Investment Fund, the nation’s sovereign wealth fund, and has also considered bidding for a fresh-produce terminal at the port of Durban.
Article content
Transnet didn’t immediately respond to a request for comment.
Article content
Over the past decade Gulf states have spent more than $100 billion in Africa on everything from energy, agriculture, and logistics. The United Arab Emirates-based DP World Ltd. has ongoing projects to expand Maputo Port in Mozambique and the Democratic Republic of Congo’s first deep-water port.
Article content
Bids to operate the Cape Town terminal close on Nov. 20.
Article content
Sign up here for the daily Next Africa newsletter and subscribe to the Next Africa podcast on Apple, Spotify or anywhere you listen.
Article content
—With assistance from Loni Prinsloo.
Article content
English (US)